Rent Growth
Rents were up 5.6%, fell 30 basis points in June and was down 110 basis points from the recent high in October.
Top 10 NYC Multifamily Sales in June 2016
PropertyShark has compiled the data and we’ve got the priciest multifamily property deals recorded in New York City in June. Read on to find out how each borough performed: 1. Sales Price: $139,600,000 Known as The Hamilton, this Yorkville tower with 265 residential units transferred last month in an uncharacteristic move by high profile developer Glenwood Management. Crain’s New York reports that the new owner, Bonjour Capital, may invest an additional $20M in upgrading the lobby, gym, and other amenities, though union workers fear their wages may be cut in half by the new buyer. 2. 3418-3446 91…
Economy Watch: How Millennials Are Reshaping U.S. Cities
A new Avison Young report explains how Millennials’ preferences will have a deep, lasting impact on both commercial and residential development.
Yardi Matrix: Portland’s Promise
Broad-based job growth and a constant influx of Millennials have propelled
apartment rent increases in Portland to among the highest in the nation.
Yardi Matrix: San Antonio’s Investor Appeal
San Antonio’s multifamily market continues to be healthy, with the metro adding
jobs and households at an above-trend rate.
Yardi Matrix: Phoenix – Rise of the Silicon Desert
Phoenix’s multifamily market is on a roll as a consequence of its strong job market amid a population influx unlike any other in the Southwest.
Yardi Matrix: Jacksonville – Boomtown, USA
Jacksonville has enjoyed substantial population growth in recent years, benefiting from above-trend job gains and affordable housing.
Dog Days Take Toll on July’s Rent Growth
Despite a spurt of incoming supply, multifamily rent growth slowed down slightly in July.
Economy Watch: Renters Fare Better in Certain Markets (Especially Arizona)
Where apartment residents find the most attractive pricing, quality of life and other key factors.
Economy Watch: Apartment Market Not Quite the Juggernaut of Recent Years
According to the organization’s Quarterly Survey of Apartment Market Conditions, the surge of supply is finally catching up with persistent demand.