The investment sales market in New York City closed out 2018 with a bang, surpassing levels last seen in 2017 and surpassing four-year highs. In the fourth quarter alone, the city recorded 626 deals totaling $13.8 billion in value, a 143 percent increase over the year before. In fact, that total is only half of the nearly 28 billion deals predicted for 2021. Regardless of what factors contribute to the recent spike in investment sales, the year-end market is likely to be even more robust in 2019.
Eastern Union has also launched investment sales operations in the Mid-Atlantic region. The firm focuses on providing capital markets advisory services and financing services for businesses and financial institutions. Investment sales New York City and the Greater Tri-State Area are headed by industry veteran Ben N. Weiss. He has more than 20 years of experience in the industry. By partnering with Eastern Union, Mr. Weiss is aiming to take Eastern Union’s investment sales business to the next level. Sales of investment properties in New York City totaled more than $8.5 billion in 2016, according to a report by Colliers International. That’s down from $10.5 billion in 2015, but the market is still strong, with prices reaching new heights.
The largest sales in 2016 were all in the Manhattan market, totaling more than $4 billion. The most expensive sale was for the Waldorf Astoria hotel, which went for $1.95 billion. The Brooklyn market also saw some big sales in 2016, totaling more than $2 billion. The most expensive sale was for a portfolio of properties that went for $875 million. Get in touch with Citadel to learn about Buildings for Sale New York City.
The Bronx market had the third highest sales volume in 2016, totaling more than $1.5 billion. The most expensive sale was for a portfolio of properties that went for $625 million. The Queens market saw sales of more than $700 million in 2016, with the most expensive sale being for a property that went for $340 million.
The Long Island market had sales of more than $300 million in 2016, with the most expensive sale being for a property that went for $155 million. The Westchester/Fairfield market saw sales of more than $200 million in 2016, with the most expensive sale being for a property that went for $100 million.
The overall market for investment sales in New York City is strong, with prices reaching new highs. Learn about the HPD Violations New York City now. Manhattan remains the most expensive market, but Brooklyn and the Bronx are seeing strong growth as well. Queens and Long Island are also seeing steady sales activity. The Westchester/Fairfield market is slower than the other markets, but there are still some good opportunities for investors.
If you’re thinking of investing in New York City real estate, you should know about New York City Real Estate Taxes. Now is a good time to do it. Prices are high, but there are still good deals to be had. Contact a real estate agent who specializes in investment properties to learn more about the market and find the right property for you.
