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CLIENT ACCESS

Costar
March, 2018

ARIEL PROPERTY ADVISORS RECEIVES 2017 COSTAR POWER BROKER AWARD
AS A LEADING COMMERCIAL REAL ESTATE BROKERAGE FIRM IN NEW YORK CITY

Our Latest Research

Multifamily Month in Review: New York City | January 2018

The New York City multifamily market in January experienced across-the-board declines compared to the previous month. As the end of 2017 neared, there was a concerted effort in the market to close out transactions that had been slated for the year’s pipeline, causing a surge in overall activity and dollar volume to exceed $1 billion in December. This momentum, however, did not continue into the new year and a general slowdown took hold. Portfolio sales were scant in January and dollar volume fell below $1 billion.

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2017 MULTIFAMILY MARKET STATS COMPARED TO 2016

Multifamily
Dollar Volume

$7.22B

$13.78B (-48%)

Multifamily
Transaction Count

457

638 (-28%)

Current Prime
Interest Rate

4.50%

3.75%

Resi. Units in
Development

6,958

8,336 (-17%)