The trio sold $17 million worth of multifamily assets in three deals in last 45 days. If they had read the headlines, they would have known the city's multifamily market is supposed to be in the doldrums with a vacancy level of 10.3% expected to rise to 11.5% by year end, according to a mid-year analysis by Marcus & Millichap.
"These sales demonstrate that the private capital investment market continues to thrive, driven primarily by low interest rates and entrepreneurial investors," Goldfarb tells GlobeSt.com.
The vacancy marks at the three sold properties are in the mid-80% range, a moderate level for new owners who plan to renovate and improve the properties' values, Robinson tells GlobeSt.com.
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