The Real Deal Miami

2010 commercial property sales outpacing previous year’s

July 09, 2010 04:30PM

Commercial property sales in Manhattan so far this year are firmly outpacing sales figures during 2009, according to a report released today by commercial real estate services firm Eastern Consolidated. Sales volume reached $2.95 billion in the second quarter, up from $930 million during the same quarter a year earlier. The volume of commercial property sales also increased quarter-over-quarter, climbing 16 percent from the first quarter’s $2.5 billion worth of sales. While this sales volume hasn’t yet reached pre-recession levels, the second quarter of this year was the strongest-performing since the third quarter of 2008, which saw around $7.5 billion in commercial property sales. TRD