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Multifamily Quarter In Review: NYC Multifamily Property Sales Pull Back in 3Q 2016
New York City multifamily sales predominantly consisted of small to mid-size transactions during the 3Q of 2016, leading citywide dollar volume to fall on a quarter-to-quarter and year-over-year basis.
For the 3Q16, New York City saw 178 transactions comprised of 284 buildings totaling $3.09 billion in gross consideration. This represents a 15% decline in dollar volume, a 1% decline in transaction volume, and 22% decline in building volume compared to 3Q15, which saw 363 properties trade across 180 transactions totaling $3.652 billion in gross consideration.