Research Center
Top 10 NYC Multifamily Sales in February 2016
February’s recorded sales show a strong demand for multifamily apartment buildings in New York. Manhattan led the pack, with multiple package deals that could promise exciting new redevelopments. Brooklyn, Queens and even the Bronx make appearances, too. Check out the most expensive transactions, and the latest data from PropertyShark. 1. 420-423 E. 54 St., Manhattan Sale Price: $390,000,000 Buyer: River Tower Owner, LLC Seller: EQR-River Tower A, LLC East Midtown’s RiverTower building tops February’s recorded sales at a healthy $390M. While it sold at significantly less than was predicted by The Real Deal, Sam Zell’s Equity Residential was rumored…
Consumers Seem a Little More Wary, But Might Still Spend
Consumers are a little more skittish now than during most of last year.
Economy Watch: Multifamily Starts Above Pre-Recession Levels
Within total residential starts, multifamily was up, coming in at 341,000 units started on an annualized basis.
Economy Watch: No Change for Interest Rates. Yet.
As expected, the Federal Open Market Committee decided not to adjust interest rates during its latest meeting this week.
Economy Watch: Retail Sales Down Slightly for the Month, Still Strong Compared With Last Year
Retail sales edged down by 0.1 percent in February.
Economy Watch: U.S. Engine for World Economy, Domestic Real Estate Benefits
Much of the world’s economy is troubled, or at least weaker than it has been recently, yet the U.S. economy continues to be one of the bright spots worldwide.
Economy Watch: Millennials Supporting Apartment Demand Growth
Why Millennials, not Baby Boomers, are driving apartment demand.
Economy Watch: CRE Execs a Little More Glum Now
Commercial real estate executives are somewhat more pessimistic now than they were a year ago.
CRE Prices Dip For First Time in Six Years, Says Moody’s
Moody’s/RCA reported that its Commercial Property Price Indices’ national all-property composite index declined 0.3 percent in January 2016.
Yardi Matrix: San Francisco, Investor Haven?
San Francisco continues to be an economic powerhouse, among the top metros in the U.S. in job creation and home to many iconic brands and technology companies such as Apple, Google and Twitter.