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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.