Despite a decidedly active August, New York City’s volume of multi-family transactions tailed off a little in September, according to a report released today by Ariel Property Advisors.
Only 45 multi-family transactions took place in the city in September, compared with 62 in August; that’s a 27 percent decrease in deals. Dollar volume dropped more dramatically month-over-month, falling 48 percent, from $595.19 million to $308.92 million. Year-over-year, the numbers took a more modest hit. There were 50 transactions in September 2011 totaling $467 million. [more]