New York City’s multi-family property market remained subdued in February following a manic close to 2012 and a subsequently slow January, according to data provided to The Real Deal by Ariel Property Advisors.
There were just 28 multi-family transactions in the city in February, the data show, adding up to a total of $249.11 million. Those figures represent a 28 percent decrease in transaction volume and a 42 percent drop in dollar volume compared to February 2012, which saw 39 transactions totaling more than $428.82 million. Compared with January 2013, the numbers represent a 4 percent increase in transaction volume and a 22 percent decline in dollar volume. [more]