The Real Deal New York

This week in real estate market reports

A weekly feature bringing you the industry’s latest intel
By Chava Gourarie | March 16, 2017 01:50PM

(Credit: MNS, click to enlarge)

According to the most recent market reports, Manhattan rents dropped by .03 percent, brokers are feeling confident for the first time in two years, and multifamily investment sales saw a slow January.

Residential

Manhattan Rental Market | MNS
Rents in Manhattan dropped .03 percent in February relative to January for an average of $3,920. In year over year rents, SoHo saw the biggest increase, and Chelsea the biggest decrease. Read the full report here.

Manhattan luxury sales | Olshan Realty
Of 37 luxury contracts signed last week, 11 were for $10 million and above. Read the full report here.

Broker confidence index | REBNY
Brokers’ confidence in the real estate market increased .21 percent in the fourth quarter of 2016, the first upward move since the end of 2014. Read the full report here.

U.S. rent survey | Yardi Matrix
Rents stayed flat in February across the 124 markets surveyed, for an average of $1,306. Read the full report here.

Commercial

Multifamily market | Ariel Property Advisors
Activity in the multifamily investment market was off to a slow start in January, down 73 percent in dollar volume from December. Read the full report here.

Top 50 office deals | CommercialCafe
The $1.9 billion sale of 787 Seventh Avenue to CalPERS was the nation’s largest single-asset office deal in 2016. Asian investment accounted for 15 percent of the total sales volume of the top 50 deals. Read the full report here.