CRE investors in Manhattan are starting to pick up their activity. The city in the third quarter posted 80 transactions for $3.2 billion in dollar volume, according to a property sales report from Avison Young. The two categories increased by 29 percent and 16 percent from the June quarter, respectively.
And the recent activity is a vote of confidence for Avison Young, which is now anticipating Manhattan's transactions for investment sales to rise 16 percent and total volume to soar by 76 percent in 2024, from the previous year.
"It is the belief of many that the market is beginning to round into form heading into the last quarter of 2024," the CRE firm wrote.
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