The Real Deal New York

Scorecard: December investment sales were too little too late

A round-up of news and reports on the commercial market
By Adam Pincus | February 23, 2017 10:00AM

From the February issue: Manhattan investment sales picked up in December 2016 to $4.2 billion , a 125 percent increase over the prior month, but still down more than 60 percent from December 2015.

Overall, Manhattan sales fell 26 percent last year to $40 billion compared with 2015, when buyers spent nearly $55 billion on properties.


Retail investment sales were down 42 percent year over year, while land sales were down 30 percent. The two largest sales in December of last year were multifamily assets totaling nearly $1 billion.

The biggest deal was Blackstone Group’s TRData LogoTINY $620 million purchase of Kips Bay Court from Phipps Houses.