New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Ariel Property Advisors: More Apartment Property Sales Coming
May 1, 2017
Investors are likely to buy and sell a lot more apartment properties as spring turns to summer in New York City.
“Now that the uncertainty has subsided and 10-year yields have come down, we expect to see a sharp pickup in activity,” said Shimon Shkury, president and founder of Ariel Property Advisors.
Investors bought and sold just $1.6 billion in apartment properties in the first quarter 2017, down 60% from the year before, and the lowest volume since the first quarter of 2013. That’s even steeper than the slowdown in property sales that Ariel charted in February.
Uncertainly over policy matters, like interest rates, weighed on property sales just after the presidential election, said Shkury.
For comments, questions or concerns, please contact Bendix Anderson
Subscribe to Connect Daily New York - ◦Sale/Acquisition
