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Commercial Observer

Making Sense of the 2023 New York City Multifamily Market

Covid, rising interest rates, inflation, regulations, bank failures and hybrid-work are challenging NYC’s commercial real estate market. In this Q&A in the Commercial Observer, Michael Tortorici explores how these trends are affecting the multifamily and development markets and the policies needed to create more affordable housing.

Read more about Michael Tortorici in the latest article.

Our Latest Research

Multifamily Quarter In Review: New York City | Q1 2023

The New York City multifamily market saw a total of 268 transactions with a combined value of $2.11 billion in the first quarter, a year-over-year decline of 35% and 39%, respectively, according to Ariel Property Advisors’ Q1 2023 Multifamily Quarter in Review.

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