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Multifamily Quarter in Review: New York City | Q1 2017
Amid uncertainty regarding the presidential election, and a dearth of institutional-level transactions, the 1Q17 New York City multifamily market registered its lowest dollar volume since 1Q13. While transaction volume remained on pace with 4Q16, dollar volume fell 56% as large institutional transactions all but disappeared. 1Q17 saw zero transaction exceed $100 million and 16 sales north of $20 million. These numbers pale in comparison to the 11 sales above $100 million and the 29 transactions that sold for more than $20 million in the fourth quarter of 2016.