Source: Eastern Consolidated, CoStar and PropertyShark.comProperty sales volume fell for the seventh straight quarter in the
first quarter of this year, according to the May Manhattan economic
indicators report from Eastern Consolidated, released today. The volume
of multi-family sales fell 40 percent between the fourth quarter of
2008 and the first quarter of 2009, to just under $200 million — a 96
percent drop from the market peak in mid-2007. The Massey Knakal Manhattan building sales report for the first
quarter, also released today, projects a 59 percent decrease in dollar
sales volume and a 68 percent drop in the number of sales through 2009
for buildings below East 96th Street and West 110th Street. TRD [more]
