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shimon-shkury Shkury: “Now that uncertainty around the election has subsided, we expect to see a sharp pickup in activity.”

NEW YORK CITY—The multifamily market here continued to cool down in the first quarter as caution surrounding last year’s presidential election suppressed the number of properties that entered contract late last year, according to Ariel Property Advisors’ Q1 multifamily report.

Dollar volume dropped to its lowest level in four years as large institutional-level transactions nearly vanished. Transaction volume remained on pace however with the previous quarter’s level of activity.

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