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Manhattan Investment Sales Values Were Up, Trades Down, in 2013

NEW YORK CITY-The late 2012 surge hurt last year's numbers, but the dollar volume was still strong, especially in the multifamily and office sectors.

By Rayna Katz | Updated on February 05, 2014

NEW YORK CITY—The number of investment properties sold in Manhattan declined slightly in 2013 from 2012, but the dollar volume of those deals increased a healthy 24% to $27 billion, Ariel Property Advisors‘ Manhattan 2013 year-end sales reports shows. The report covers the real estate market south of east 96th street and south of West 110th street, and transactions valued at $1 million and above.

For the year, Manhattan saw a total of 672 transactions comprised of 852 properties totaling $27 billion, compared to 2012, which saw $21.8 billion of properties in 765 transactions comprised of 935 properties. However, there’s a logical reason for the decline, Ariel officials note.

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