In the second half of 2015, New York City’s investment property sales rose 31 percent to reach $34.3 billion, while activity grew 23 percent to 2,901 transactions total, as compared to the second half of 2014. These figures are part of the launch of the the Real Estate Board New York’s Investment Sales Report, a summary exploring data on commercial, manufacturing and multifamily rental deals throughout NYC. “The second half of 2015 resonated with groundbreaking, large-scale transactions and heightened activity citywide,” said President of REBNY, John H. Banks III. “Our report demonstrates the fact that investors continue to see the appeal of investing in all property types throughout all the boroughs.” Every borough but Staten Island had a year-over-year increase ...
- Every borough but Staten Island had a year-over-year increase in consideration, with Manhattan leading the pack.
- While Staten Island sales declined by 11 percent in the second half of 2015 compared to the year prior, the borough saw the highest escalation in transactions at 56 percent.
- The other four boroughs had less than half the percentage increase in transactions that Staten Island saw, but still featured growth.