NEW YORK CITY—While month-to-month comparisons show a stablemarket, a lack of institutional and portfolio transactions in Julyhas caused multifamily transaction, building and dollar volume hereto fall year-over-year.
Ariel Property Advisors reports that in July,New York City saw 62 transactions comprised of 81 buildingstotaling $601 million in gross sales. Compared to July 2013, therewas 3% decrease in transaction volume, a 35% decrease in buildingvolume and a 43% decrease in dollar volume. Ariel reports that inJuly 2013, New York City saw 64 multifamily transactions comprisedof 125 buildings totaling $1.058 billion in gross sales.
Dollar volume in July 2014 was virtually unchanged compared to amonth earlier, while transaction and building volume declined by14% and 27%, respectively.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
