Q1 2024 marked a potential inflection point for NYC investment sales. After two years of declining volume, transaction activity increased 18% compared to Q4 2023, suggesting the market may have found its floor.
Key Metrics
- Total volume: $2.8B across 127 transactions
- Average deal size: $22M
- Multifamily led sectors at 38% of volume
- Private buyers accounted for 42% of acquisitions
Pricing Trends
Cap rates stabilized in the 5.5-6.5% range for quality multifamily, while office assets showed wider dispersion based on quality, location, and lease rollover.