Bronx leads city in October multi-family sales

New York /
Dec.December 05, 2011 03:40 PM

The Bronx led the city in multi-family sales in October 2011 with 25 buildings sold, totaling $96.6 million, or 37 percent of the city’s multi-family sales for the month, according to a report from Ariel Property Advisors.

Fifty multi-family buildings, totaling $256 million, traded in 28 transactions in the city in October overall, compared to 47 multi-family buildings totaling $402.9 million that traded in 41 transactions in September.

“The Bronx is poised to rebound out of the many restructurings that took place in the last 24 months,” said Shimon Shkury, president of Ariel. “Citywide we saw a shift in October sales from larger buildings to smaller buildings. Since we’re only looking at one month, however, it’s too early to see if this is a trend.”

Manhattan was the second most active borough with eight transactions comprising nine buildings, and $62 million. Brooklyn had seven transactions consisting of eight multi-family buildings, totaling $39.3 million, according to the report. — Katherine Clarke


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Numbers were down across the board (Credit: iStock)
New York’s multifamily market had its slowest first half of the year since 2011
New York’s multifamily market had its slowest first half of the year since 2011
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
From left: Joseph Chetrit, Barry Sternlicht, David Rubenstein, Michael Dell, and Marc Holliday, along with 305 East 86th Street and 1540 Broadway (Getty, Carlyle, Google Maps)
New York City’s biggest borrowers of 2022
New York City’s biggest borrowers of 2022
New York Community Bank CEO Thomas Cangemi
NYCB slashes 10% of staff as resi mortgages slump
NYCB slashes 10% of staff as resi mortgages slump
A photo illustration of 8 Spruce Street and 616 First Avenue (Getty, Google Maps)
NYC multifamily sales boomed, but party could be over
NYC multifamily sales boomed, but party could be over
From left: MetLife's Michel A. Khalaf and Clarion's David Gilbert along with with 44 Berry Street and 139 North 10th Street in Williamsburg (Getty, LoopNet, Clarion, MetLife)
MetLife pays $68M cash for Williamsburg apartments
MetLife pays $68M cash for Williamsburg apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...