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…
Market Pulse for March 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: In December 2015, housing starts of buildings with five or more units gave back a portion of the gains made in November 2015. After growing from 344,000 to 378,000, a 9.9 percent increase, between October and November, housing starts of buildings with five or more units fell by 3.4 percent to 365,000 over the month of December. Despite the one-month decline, the number of housing starts of buildings with five or more units in 2015, 385,000, exceeded the level in 2014, 342,000, by 12 percent. Since reaching…
Economy Watch: Mixed Signals About Consumer Spending
Can American consumers sustain or even increase their pace of retail spending and thus support the health of the retail property market?
Economy Watch: Economy Slowing, But CRE Will Abide
The economy’s gotten off to a somewhat slow start this year.
Economy Watch: January Employment Numbers Might Come in Low
The first employment report of 2016 from the Bureau of Labor Statistics is due on Friday, and there’s a measure of worry that it will be weaker than in recent months.
Economy Watch: 4Q GDP Fairly Weak
January 2016 ended with mixed metrics about the state of the U.S. economy.
Matrix Monthly Documents a Fast Start to Multifamily Rents in 2016
National average in January sets a new all-time high.
Economy Watch: Real Estate Investment Volume Saw Strong 2015
Total direct real estate investment worldwide reached just over $700 billion in 2015, almost as much as in 2014, according to a recent report by JLL.
Economy Watch: Economy Shows Signs of Modest Slowdown
Early economic metrics this year continue to point to a modest slowdown.
Economy Watch: E-Commerce Continues Making Inroads in Holiday Sales
For many commodities, shoppers are buying without a physical intermediary.