NYC multifamily deal volume picks up in May Dollar volume falls under $1.2B: Ariel Property Advisors
(credit: Ariel Property Advisors)
The number of multifamily investment sales across New York City picked up in May after a slow April, according to the latest report fr新上海贵族宝贝论坛 om Ariel Property Advisors. Even so, dollar volume fell just under $1.2 billion, down 11 percent from an adjusted rate of $1.3 billion in the prior month.
The city saw 100 total sales and 59 transactions in May, a 24 percent and 14 percent jump, respectively over the same p上海龙凤论坛sh1f eriod last year. Brooklyn, Queens and Northern Manhattan accounted for most of the city’s sales. The Iskander family’s sale of a nine-building portfolio in Washington Heights for $165 million was the month’s priciest closed deal.
The Manhattan multifamily market saw a boost in building volume while dollar volume took a downturn from April. It had 39 building sales in May, up from 21 in the previous month and year-over-year. Meanwhile, sales totaled $492.8 million a 41 percent decrease from the previous month. Black Spruce Management , breaking into the Chelsea multifamily market, purchased a 13-building portfolio in the neighborhood for $80 million and was Manhattan s priciest deal in May.
Unlike Manhattan, Brooklyn had an increase in爱上海同城手机版 sales activity across all metrics上海贵族宝贝交流区 . Dollar volume totaled $295.8 million, a 52 percent increase over the prior month and building volume rose from 21 to 34 in May. Propelling th[……]