NEW YORK CITY—Multifamily sales transactions in New York City rose 33% in the second quarter and dollar volume based on those deals soared 74% in the second quarter of 2015 as compared to a year earlier.
Ariel Property Advisors reports that the multifamily market in New York City is building on the momentum it established in the first quarter of this year and is showing significant year-over-year gains as compared to activity posted in 2014.
New York City saw 225 transactions comprised of 364 buildings totaling $3.30 billion in gross consideration in the second quarter of 2015. In the second quarter of 2014, 325 properties traded across 169 transactions totaling $1.901 billion in gross consideration.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
