The Real Deal New York

Category: Investment Sales

  • Louis D’Avanzo at this morning’s media briefing by Cushman & Wakefield

    The office vacancy rate in Midtown jumped to its highest level since late 2010 as big blocks of space hit the market and leasing activity remained slow, data from commercial services firm Cushman & Wakefield shows. Midtown saw its vacancy rate jump by 0.7 points in the third quarter — compared to the previous quarter — to 10.5 percent. It was the highest figure since the fourth quarter of 2010, when the vacancy rate was 10.6 percent, Cushman figures show. [more]

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  • From left: Massey Knakal's Michael Amirkhanian and 77 Commercial Street

    Reacting to the rising rental market in Brooklyn, investors purchased more than 1.5 million square feet of residential development space in the borough during the first six months of 2012, almost four times the amount purchased during the same period in 2011, The Real Deal found in an analysis of Massey Knakal Realty Services data.

    Investors spent $171 million to buy those 1.5 million square feet this year, while developers paid $55 million during the first six months of 2011 to buy land with just over 400,000 square feet of development rights, the analysis reveals. [more]

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  • Multi-family transactions were up 48 percent year-over-year in the second quarter of 2012, according to a report released today by Ariel Property Advisors.

    A total of 193 buildings worth $1.38 billion traded citywide in the second quarter, compared with 129 buildings totaling $1.06 billion in the first quarter of 2012 and 149 buildings totaling $1.03 billion in the second quarter of 2011. [more]

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  • NYC Commercial Sales Volume (source: PropertyShark)

    The city’s commercial sales market showed mixed results in the first three months of 2012, according to a report released today by PropertyShark.com. There were $4.98 billion worth of commercial real estate deals in New York City in the period, a 24 percent decrease from the fourth quarter of 2011 but a 52 percent gain over the same period a year ago. In each quarter between this year’s first quarter and last year’s first quarter, total commercial sales volume exceeded $6.5 billion. [more]

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  • Manhattan investment sales (source: Cushman Wakefield)

    Investment sales activity was flat in the first quarter as demand for multi-family properties compensated for weakening hotel sales volume, according to a report released today by Cushman & Wakefield’s Capital Markets Group. [more]

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  • Commercial real estate transactions for multi-family, development and user properties in Northern Manhattan jumped 7.43 percent in 2011 compared to the previous year, according to a report released today by Ariel Property Advisors, while the dollar value for the transactions increased by 4.22 percent for the year.

    In total, Northern Manhattan had 188 commercial real estate transactions totaling $519 million in 2011, compared to 2010, which saw 175 transactions totaling $498 million in gross consideration. [more]

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  • Brooklyn commercial sales improve

    January 17, 2012 01:00PM

    Brooklyn commercial property sales in 2011 (source: TerraCRG)

    In Brookyln, sales of commercial properties showed significant recovery in 2011, according to a report by commercial real estate brokerage firm TerraCRG.

    A total of 1,052 commercial sales closed for over $1.8 billion, an 86 percent increase in dollar volume from 2010, and a 35 percent increase in total number of sales. About 70 percent of the dollar volume increase came from institutional activity, the report shows. [more]

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  • The volume of New York City multi-family building sales increased 33 percent in 2011 compared to 2010, with institutional investor interest bolstering the 43 percent year-over-year increase in dollar volume, according to data from Ariel Property Advisors released today.

    In 2011, there were 436 multi-family transactions consisting of 589 buildings totaling $4.23 billion, compared with 2010, which had 392 multi-family transactions with 442 buildings totaling $2.949 billion. [more]

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  • Dollar volume and number of properties sold (source: Massey Knakal Realty Services)

    Manhattan investment sales last year declined as the year wore on as sellers decided not to place properties on the market, even as the total amount sold far outpaced 2010, executives at investment firm Massey Knakal Realty Services said.

    There were $21.7 million in investment property trades in 2011, up 87 percent from the $12 billion in 2010. But investment sales in the fourth quarter were just $5 billion, down from the $6.1 billion in the third quarter and $8 billion in the second quarter, the firm reported at a year-end market briefing this morning. [more]

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  • Commercial property sales in New York City rebounded powerfully in 2011, as sales volume increased 32 percent from 2010 on 8 percent more transactions, according to a report released today by PropertyShark.com.

    In all, 3,453 properties sold (six more than did in 2010) in 2,986 transactions for a total of $24.17 billion. The last time commercial property sales volume surpassed $20 billion in the city was 2007, when 5,466 properties sold for a total of $49.18 billion. [more]

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