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NYC Multifamily Q2 Sales Get Mixed Reports

NEW YORK CITY-Two firms reveal differing Q2 results, though both agree that Brooklyn posted a strong quarter.

By Rayna Katz | Updated on July 25, 2013

NEW YORK CITY-New York’s multifamily sector saw a sharp uptick in activity in the second quarter, according to a new report. In other research, while sales across the city were seen as being on the rise, Manhattan activity dipped down.

The New York City multifamily market saw a 50% increase in transactions during the second quarter, with a 20% rise in buildings sold and a 63% jump in the dollar volume of those trades. In total, New York City saw 156 transactions comprised of 220 buildings totaling $1.6 billion, compared to the first quarter 2013, which saw 104 transactions comprised of 183 buildings totaling $967 million in gross consideration.

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