Report: MF volume hit $3.3B in Q1

NEW YORK CITY—First quarter New York City multifamily dollar volume rose 6% year-over-year to $3.324 billion, with Manhattan and Brooklyn each accounting for more than $1 billion in sales, according to Ariel Property Advisors’Multifamily Quarter in Review New York City: Q1 2015.

Transaction volume rose 7% to 208 and the number of buildings traded declined 13% to 338 in the first quarter 2015, compared to the first quarter of 2014, which saw 194 transactions, 387 buildings sold, and total dollar volume of $3.13 billion. Compared to the fourth quarter 2014, transaction and building volume rose 9% and 1%, respectively, while dollar volume declined 18%.