Market Pulse for January 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: After a steep decline in July, from 510,000 to 382,000, housing starts of buildings with five or more units, measured at a seasonally adjusted annual rate, have now risen for two consecutive months. In September 2015, housing starts of buildings with five or more units rose by 17.0 percent to 454,000. This increase follows the 1.6 percent growth that took place in August. Together, housing starts of buildings with five or more units have risen by 18.8 percent over the past two months. Since the monthly rate…
Top 10 NYC Multifamily Sales in September 2015
September saw a total of $690,000,000 in multifamily sales. One buyer, BRE FSC Multifamily Borrower LLC, swept up the competition, picking up the bill on half of these top 10 transactions. With no further ado, here are NYC’s top 10 multifamily real estate deals recorded in September 2015: #10 609- 619 W 135 Street, Manhattan Sale Price: $31,000,000 Buyer: 609-619 West 135 Street LLC Seller: Galil Management formerly E&M Associates Coming in at number 10 is the five-building package deal at 609 to 619 W 135 Street in the Hamilton Heights neighborhood. Brooklyn-based landlord Isaac Herskovitz closed the deal…
Market Pulse for November 2015
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: Housing starts of buildings with ve or more units, measured at a seasonally adjusted annual rate, fell by 17.1 percent to 413,000 over the month of July 2015. The monthly decline in these housing starts partly re ected a 4.6 percent upward revision to the number of five or more unit housing starts originally recorded in June; it was revised from 476,000 to 498,000 in July. In tandem with the monthly levels, the three-month moving average, used to smooth monthly data volatility, also fell, declining by 1.8…
