Manhattan building sales down

There were $8.17 billion in closed building sales in the year’s first half, with an additional $5.62 billion in sales under contract, according to a Cushman & Wakefield market report. Closed sales were down 65.1 percent compared to the same time period year, when $23.42 billion in sales closed. Most of the activity was in Midtown, with 18 properties closed or under contract and class A office space selling for an average of $972 per square foot. Midtown South had 11 transactions, with class A office space selling for an average of $403 per square foot. Downtown saw three transactions at an average of $405 per square foot. TRD