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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.