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NYC CRE Sales Volume Down 53% in Q1

Volumes sink across all asset classes as uncertainty rules.

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The anemic pace of New York City commercial real estate investment sales in the first quarter puts 2023 on a pace to be the slowest year for CRE sales since 2009, in the Great Recession that followed the GFC.

The Q1 2023 total of $2.2B in commercial real estate investment sales involving 108 properties in New York City is a 59% decline across the trailing four-quarter average and a 53% decrease from Q4 2022, according to Avison Young data reported by Bisnow.

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Jack Rogers

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