The Manhattan multifamily market saw a significant increase in midtown Manhattan sales in the month of September – according to a quarterly Manhattan multifamily market report by Cignature Realty Associates, a Manhattan-based commercial real estate brokerage firm that specializes in the sale of multifamily and mixed-use Manhattan apartment buildings.
The report revealed that September deals represented over half of the total sales volume for the entire third quarter of 2018. Dollar volume was average for the past six quarters with $1.2 billion in Q3 2018 as compared with $1.4 billion in Q3 2017. Q3 building volume was the lowest of the past six quarters with 69 buildings sold in Q3 2018 as compared to 87 sold in Q3 2017.
Cignature Realty’s “Manhattan Multifamily Insight” for Q3 is the second in a series of quarterly reports designed to give building owners, investors, buyers and sellers a detailed snapshot of Manhattan multifamily sales for the third quarter of 2018 in total dollar/building volume and average total sale price per building, per unit and per square foot.
The report also compares the data with the third quarter of 2017 as well as a breakdown by five major Manhattan submarkets: Northern, Upper West Side, Upper East Side, Midtown and Downtown.
To access all Cignature Realty “Manhattan Multifamily Insight” reports, go to the Cignature Realty website at cignaturerealty.com/insight.