NYC multifamily market slides 60% to $1.6B in Q1: report Trump bump froze contracts late last year as mortgage rates climbed
New York City’s multifamily market slumped through the first quarter following last year’s Trump bump.
Total dollar volumes fell 60 percent year-over-year to $1.6 billion during the first quarter as fewer deals materialized late last year amid uncertainty surrounding the presidential election, according to a new quarterly report from Ariel Property Advisors.
That was the lowest sales total for a quarter since the beginning of 2013, and a sharper decline of 51 percent in the city’s overall investment sales market that Cushman Wakefield reported earlier this month.
“The market in general took a pause as of November,” Ariel Property Advisors Shimon Shkury told The Real Deal. “The 10-year yield went up drastically the week after the elec上海贵族宝贝