NYC Commercial Sales at Highest Point in Four Years

The third quarter of 2012 saw the largest number of commercial transactions in New York City in the past four years, according to a recent report released by PropertyShark. The tally accounts for a total of 914 sales — a 9 percent quarter-over-quarter increase and a 25 percent jump from the same period in 2011. The total sales volume was just over $6 billion — inching up 4 percent quarter-over-quarter, but marking a 36 percent year-over-year drop. The office market accounted for a total of $3.66 billion in sales volume, marking a 22 percent quarter-over-quarter climb and a 40 percent year-over-year fall. Multifamily saw $1.75 billion in sales volume, which is a 6 percent decrease from the second quarter and a 27 percent decline from the same period last year.

Source: PropertyShark