Manhattan Investment Sales Values Were Up, Trades Down, in 2013

NEW YORK CITY—The number of investment properties sold in Manhattan declined slightly in 2013 from 2012, but the dollar volume of those deals increased a healthy 24% to $27 billion, Ariel Property Advisors‘ Manhattan 2013 year-end sales reports shows. The report covers the real estate market south of east 96th street and south of West 110th street, and transactions valued at $1 million and above.

For the year, Manhattan saw a total of 672 transactions comprised of 852 properties totaling $27 billion, compared to 2012, which saw $21.8 billion of properties in 765 transactions comprised of 935 properties. However, there’s a logical reason for the decline, Ariel officials note.