Top 10 NYC Multifamily Sales in April 2016
Trendy Brooklyn may have come out on top in this new data set, but overall recorded sales in April 2016 were dominated by transactions in Manhattan. Of special note is the continuing appetite for income producing properties in Washington Heights and Long Island City. 1. Sale Price: $79,672,500 Buyer: Eqr-North Ninth Ii LLC Seller: Em N9 LLC, Fpg 237-263 North 9TH Property LLC Despite rumors of shedding billions of dollars of apartments late last year and early in 2016, Sam Zell’s Equity Residential boldly picked up these Williamsburg apartment buildings last month. 2. 42-15 Crescent Street, Queens Sale…
Rent Growth
Rents were up 6.0%, which had fallen to 5.7% in March after peaking at 6.7% in October.
Economy Watch: Another Official Talks of CRE Froth
The Office of the Comptroller is pressing banks to tighten up loan terms to property developers, and toward that end recently reissued its guidance on how banks should approach CRE lending.
Economy Watch: Boston Fed Head Worries About CRE
Federal Reserve Bank of Boston president Eric Rosengren noted a number of things of interest to commercial real estate.
Economy Watch: Single-Tenant Retail Accounts for Most Growth in the Sector
Retail’s been the poor stepchild of the recovery in real estate, especially when it comes to development.
Five Cutting-Edge City Initiatives in Affordable Housing
We’ve identified five of the newest or most creative local initiatives to deliver more affordable housing units to the renters who need it.
Economy Watch: Apartment Fundamentals, Sales Still Solid
According to ABODO, apartment sales are up 33 percent.
Yardi Matrix: The New Las Vegas
Following a few years of solid job growth, Las Vegas is seeking to broaden its identity, pivoting away from the Sin City image to a more convention-centric, diversified economy that will hold up better during cyclical valleys.
Yardi Matrix: Orlando’s Economic Boom
Buoyed by record tourism numbers and strong job growth, Orlando’s economy is booming.
Yardi Matrix: Will This Be Baltimore’s Year?
Baltimore’s multifamily market has lagged national growth in recent years, but positive signs are providing hope.