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Multifamily Month in Review: New York City | September 2018
The New York City multifamily market ended the third quarter of 2018 leaving transaction volume nearly unchanged while posting a substantial increase in dollar volume. Comparing the year-over-year average of the trailing 6 months through September of 2018, the average transaction volume fell to 36 transactions from 37 during the prior year. Based on the same criteria, the average dollar volume increased by nearly 30% to $766.54 million from $588.97 million during the prior year. Some of the largest transactions that occurred in certain submarkets this month were also the largest for the entire quarter.