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Multifamily Month in Review: New York City | April 2017
The New York City multifamily market saw dollar and transaction volumes hold in April, while building volume increased significantly as a result of an uptick in outer-borough portfolio trades. While these figures represent an improvement over last month’s numbers, all three volume metrics fell well below the activity seen in April of 2016. Looking at the trailing 6-month averages, transaction volume continued to drop lower and now stands at its lowest level since May of 2011.