Multifamily and lodging saw "substantial increases," according to Trepp.

Tariffs have reduced total returns, and continued unpredictable actions will likely negatively affect performance.

The Multi-tenant sector seems to provide greater stability.

One saw a 9.8% year-over-year increase. The other lost volume, although it improved as the quarter went on.

Year-over-year capital markets volumes and revenues jump.

This trend could inject residents into many parts of Manhattan and bring new life to areas too reliant on commercial uses.

Property values are rising, lenders are more willing to finance, and big names act like the worst may be past.

Luxury brands head heavily into multichannel sales.