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Multifamily Month In Review: New York City | October 2016
Light October For NYC Multifamily Sales Pricing Consistent with 3Q16 Levels
The New York City multifamily market declined modestly in October, with the number of sales slipping from September’s robust volume, while prices held steady across the boroughs compared to third quarter figures. Manhattan, however, bucked the trend, and leading the city in dollar volume.
For the month, New York City saw 42 transactions comprised of 52 buildings totaling $760.05 million in gross consideration. October transaction volume was down 14%, building volume was down 37%, and dollar volume was down 34%, representing a modest monthly decline compared to September, a month that saw 49 transactions consisting of 83 buildings totaling $1.151 billion in gross consideration.