Investment (Research Center)
City Council Approves de Blasio’s Affordable Housing Programs
The NYC City Council approved two major components of Mayor de Blasio’s affordable housing plan with the passing of the MIH and ZQA programs.
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…
Top 10 NYC Multifamily Sales in January 2016
The data is in! New York City multifamily real estate rocketed into 2016, with numerous eight-figure-plus sales. Manhattan, Brooklyn and the Bronx all jockeyed for the spotlight. Check out PropertyShark’s list of the top 10 most expensive multifamily deals recorded in NYC in January: 10. 4002-4004 & 4014-4016 Carpenter Ave., The Bronx Sale Price: $15,900,000 Buyer: Nysandy12 Cbp5 LLC Seller: Ecp Carpenter LLC The Real Deal reports that these two properties are part of a a much larger portfolio acquisition. In a partnership between Related and the New York City pension funds, a total of 737 Bronx apartments are being…
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…
Going Down
(national cap rate performance based on properties and portfolios of $2.5 million and greater)