NEW YORK, NY – August 7, 2025 – Queens’ investment sales increased to $1.72 billion in 1H 2025, up by 36% from 2H 2024, while transactions rose 7% over the same period, according to Ariel Property Advisors’ Queens 2025 Mid-Year Commercial Real Estate Trends report. Year-over year dollar volume and transactions were up by 3% and 7%, respectively.

Multifamily Highlights

      • The multifamily sector saw $463.3 million in dollar volume, up 8% half-over-half and 9% year-over-year, across 135 transactions.
      • Investor demand was concentrated in smaller, free-market and tax-class protected assets. Buildings with fewer than six units accounted for nearly 60% of multifamily transactions and 39% of the dollar volume. This preference is driven by the flexibility of these assets and reduced exposure to restrictive legislation like “Good Cause Eviction.”
      • A significant affordable transaction was Tredway’s $88 million acquisition of the 602-unit Ocean Park Apartments at 125 Beach 17th Street in Far Rockaway, which was brokered by Ariel Property Advisors.

Development Highlights

      • The development asset class rose to $338.4 million across 46 transactions, a 263% increase in dollar volume and 142% increase in transactions compared to H2 2024.
      • The surge in transactions is largely attributed to the City of Yes initiative, policy drivers such as the 485-x tax abatement, and proposed rezonings that include a 54-block rezoning of Long Island City, Jamaica Rezoning Plan and Metropolitan Park Casino Project near Citi Field.
      • In the largest development transaction Baron Property Group purchased 30-25 Queens Boulevard from LargaVista Companies for $82.5 million to build a 46-story residential tower, with LargaVista retaining a partnership role in the project and Blackstone Real Estate Debt Strategies providing $221.2 million in loans.

Industrial Highlights

      • The industrial/warehouse/storage saw $282.9 million in dollar volume across 42 transactions, a 31% decline year over year in dollar volume but 27% increase in transactions over that period.
      • Average industrial pricing rose 9% to $622/SF over the 2024 average of $565/SF and 38% year-over-year from $446/SF, reflecting sustained demand in select submarkets.
      • The largest deal was SRM Concrete’s $60 million acquisition of 120-05 31st Avenue in College Point. SRM plans to continue operating the waterfront plant as an owner-user, leveraging its location and infrastructure.

Retail Highlights

      • The retail asset class posted dollar volume of $181million, a 5% increase from H2 2024 but 44% decline year over year.
      • Flushing accounted for 49% of the retail dollar volume and 38% of the transactions.
      • Significant Flushing trades included a 24,600 SF supermarket site at 41-79 Main Street that sold for $27 million, or $1,098/SF. In addition, Premier Equities acquired 39-09 Main Street for $27 million, or $1,584 per SF. The three-story property, built in 1930 and renovated in 2015, is currently home to the luxury watch and jewelry retailer Carat & Co.

Ariel Property Advisors’ Queens 2025 Mid-Year Commercial Real Estate Trends report is available here.