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Ariel View: A close look at Ariel Property Advisors’ Shimon Shkury

Ariel Property Advisors’ Shimon Shkury recently sat down with the Commercial Observer to discuss starting his own brokerage and the state of the NYC investment sales market
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Multifamily Month in Review: New York City | November 2017

The New York City multifamily market in November saw transaction volume increase year-over-year for the first time in 2017. Similar to last month when dollar volume outpaced last year’s total for the first time, November’s gains are a continued result of hesitation that took hold of the multifamily market around last year’s presidential election. When compared to the previous month, the number of transactions and buildings sold both increased, while dollar volume fell by double digits. Outer-borough portfolio sales pushed transaction and building sales higher in November, while Manhattan registered its lowest dollar volume in more than six years.

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2017 Q3 MULTIFAMILY MARKET STATS COMPARED TO 2017 Q2

Multifamily
Dollar Volume

$2.22B

$1.94B (+14%)

Multifamily
Transaction Count

122

117 (+4%)

Current Prime
Interest Rate

4.25%

3.5%

Resi. Units in
Development

8,336

6,186 (+35%)