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Multifamily Year in Review: New York City 2017
The New York City multifamily market saw volume fall across the board this year, while prices remained steady. Dollar volume registered its lowest total since 2011 amid the fewest transactions the City has seen since 2010. Pricing however remained a bright spot in the market, particularly in Northern Manhattan and the outer-boroughs where prices per square foot grew by an average of 7%. Manhattan pricing on the other hand softened in 2017.