SANTA BARBARA, CA, October 23, 2012 (Press-News.org) The third quarter of 2012 saw the largest number of NYC commercial transactions in the past 4 years, accounting for 914 recorded sales. The number of transactions is up by 9% Q-o-Q and up by 25% compared with the same quarter of last year.
The total commercial sales volume, amounting to $6.06 billion, increased by 4% compared to the previous quarter and is down by 36% Y-o-Y.
The office market, which makes up for 60% of all New York City commercial real estate transactions, accounted for $3.66 billion, up 22% Q-o-Q and down 40% Y-o-Y.
Manhattan continues to be the number-one borough regarding sales volume, accounting for $4.52 billion (75%) in Q3 2012. The second place is occupied by Queens, with $723 million in sales volume.
Looking at the neighborhood level, Midtown comes in first place with $1.96 billion in sales volume. The figure is more than double that of the previous quarter, but 18% down Y-o-Y.
Click here for the full report.
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NYC Commercial Sales Reach Four-Year High
"Over the last several quarters we have seen a steady increase in commercial transactions, indicating there might be an encouraging trend of increased availability in commercial real estate lending." - Andrew McElhone, PropertyShark.com
2012-10-23
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[Press-News.org] NYC Commercial Sales Reach Four-Year High"Over the last several quarters we have seen a steady increase in commercial transactions, indicating there might be an encouraging trend of increased availability in commercial real estate lending." - Andrew McElhone, PropertyShark.com