Concrete Thoughts: Multi-Family Continues to Thrive

In recent columns, I have been reviewing the state of the New York City investment sales market with a focus on third -quarter 2016 results. As we have discussed, the volume of sales is slowing down both from dollar volume and number of properties sold perspectives. Simultaneously, values are remaining relatively strong as market wide they are appreciating both in Manhattan as well as in the outer boroughs.

While the general trend in value has been up, it is apparent that different product types are performing very differently. Land and hotels have been facing the biggest challenge; office buildings and multifamily properties are doing the best, leaving retail assets somewhere in the middle. This week we will focus on the ever-resilient multifamily market, which, despite significant headwinds, continues to surprise to the upside.

Click here for full article at the Commercial Observer