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NYC Investment Sales See “Encouraging” Pickup in 2020’s Second Half
New York City investment sales experienced moderate increases in both sales volume and transactions during the second half of 2020 after declining sharply in the first half of 2020, according to the Real Estate Board of New York (REBNY)’s 2020 Biannual Investment Sales Report.
Citywide total investment sales volume increased to $11 billion in the second half of 2020, representing a 5% increase in sales volume. Sales transactions were up 11% to 1,356 transactions in the second half of 2020.
However, these numbers still represent large year-over-year declines as the public health and economic crises continue impacting the industry.
“While the moderate increases in sales over the last half of 2020 are encouraging, New York still has a long road to recovery ahead and it will be critical for industry stakeholders and elected officials to work together to rebuild the city’s economy,” said REBNY president James Whelan.
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- ◦Economy
- ◦Sale/Acquisition
