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Queens Investment Sales Soared In 2013

NEW YORK CITY-Transactions increased in dollar volume by 46% over 2012 levels, according to a new report.

By Rayna Katz | Updated on February 07, 2014

NEW YORK CITY—Queens real estate had a tremendous 2013 as the borough saw major multifamily transactions and a resurgent market for development sites drive big gains in sales and dollar volume, according to Ariel Property Advisors‘ Queens year-end sales report.

The borough saw 519 transactions consisting of 702 properties valued at approximately $2.8 billion. This translates to a 58% increase in transaction volume, a 66% increase in property volume, and a tremendous 46% increase in dollar volume compared to 2012, which saw 328 transactions comprised of 423 properties worth $1.9 billion. Nearly two-thirds of these transactions took place in Northwestern Queens. 

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