Top 10 NYC Multifamily Sales in March 2016
March 2016 records reveal an active month for NYC multifamily deals. Dive into the data from PropertyShark and discover who the top deal-makers of March were, as well as discovering the premium being put on apartment buildings compared to just a few years ago. 1. 760-774 3rd Avenue, Manhattan Sale Price: $270,000,000 Buyer: 160 East 48th Street Owner II LLC Seller: Buchanan Apartments LLC The biggest deal of the month goes to a joint venture between Madison Realty and USAA Real Estate. The ‘Buchanan’ building houses 299 apartments, as well as office and retail space. Almost 200 of the…
Economy Watch: CRE Lending Continues to Thrive, According to ABA Survey
The most active asset classes—accounting for 62 percent of banks’ total CRE portfolios—are multifamily, office and retail.
Economy Watch: Why Hasn’t Low Gas Prices Stimulated Retail Sales?
The price of oil has been relatively low since mid-2014, and so has the price of gasoline, despite a small uptick in recent weeks. So where’s the boost in consumer spending?
Economy Watch: More Mixed Messages on the Economy: Jobs, Consumer Confidence
For the U.S. economy in 2016, and thus the commercial and residential real estate market, indicators have been mixed.
Growth Continues to Plod Along, Says Beige Book
Reports from the 12 Federal Reserve Districts suggest that national economic activity continued to expand in late February and March, though the pace of growth varied across districts.
Economy Watch: Office Vacancy Up Overall, Down in Most Markets
Vacancy in the U.S. office market edged up by 10 basis points during the first quarter of 2016, according to the latest quarterly report (released Monday) on the market by CBRE Group Inc., rising to 13.2 percent.
Economy Watch: Fed Minutes Reflect Central Bank Caution (Or Timidity)
The Federal Reserve released the Minutes of the Federal Open Market Committee.
Economy Watch: Retail Ekes Out Continued Slow Growth
The U.S. retail sector remains commercial real estate’s the most sluggish property type, an unwanted distinction it’s had since the recession.
Economy Watch: Apartment Vacancy Up, Rents Still Increasing in Q1
The national vacancy rate increased again during the first quarter, rising by another 10 basis points to 4.5 percent.