The submarket reports are an in-depth look at the specific Investment Sales markets in Brooklyn, Bronx, Manhattan, Northern Manhattan and Queens.
We seek to provide our readers with an overview of the market activity, benchmark transactions, and pricing trends that impact each individual real estate market.
Fed Raises Rates Quarter Point; Bank Closures Influence Debate:Capital Markets Monthly
The Federal Reserve unanimously voted to raise rates another quarter percentage point at its second meeting of the year, bringing the target range for the federal funds rate to between 4.75% and 5.00%. The central bank also reiterated its commitment to reduce inflation to 2%. In the last year, the Fed has hiked interest rates by 4.75% while at the same time significantly reducing the size of its balance sheet.
‘An Office Is Not For Dying. An Office Is A Place To Live Life To The Fullest...’:Forbes
The quote in the headline from Dunder Mifflin regional manager Michael Scott, played by Steve Carell on the sitcom The Office, seems to be the philosophy many investors have adopted when it comes to the New York City office market. As a result, 2022 was an active year for office sales with dollar volume citywide jumping 60% year-over-year to $9 billion, a post pandemic high.
4-Story Free Market Mixed-Use Building Featuring Prime East Village Retail: 32 Avenue A
32 Avenue A is a 4-story mixed-use walk-up building located between East 2nd and East 3rd Streets. It contains 3 free market, floor-through 3-bedroom apartments over 1 commercial unit on the ground floor.