117 West 111th Street is a 5-story, 70’ long multifamily building located on the north side of West 111th Street, between Lenox Avenue and Adam Clayton Powel Jr. Boulevard. Spanning 4,335 gross square feet, 117 West 111th Street contains eight (8) residential units breaking down to five rent stabilized and three free-market dwellings.

At its first meeting of the year, the Federal Reserve voted unanimously to raise the target range for the federal funds rate by 1/4 percentage point to 4.5% to 4.75%. With the latest increase, the Fed has raised interest rates by 4.5% in the last year and continues to significantly reduce the size of its balance sheet. While remaining committed to reducing the inflation rate to 2%, policymakers plan to implement rate increases at a slower pace while assessing the effectiveness of their restrictive monetary policy. Inflation continued to skew steadily downward in December with an annual increase of 6.5%, down from its 9.1% peak in June.

In this episode, Shimon Shkury and Victor Sozio discuss the findings in Ariel’s recently released 2022 Multifamily Year in Review research report, which highlights sales of buildings with 10+ units citywide and in Manhattan, Northern Manhattan, Brooklyn, the Bronx, and Queens.