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.
Manhattan Investment Sales Rebound to Pre-Pandemic Levels
Manhattan investment sales achieved quarterly activity at pre-pandemic levels for the first time in two years, according to the fourth-quarter report from Avison Young’s Tri-States Investment Sales Group. Q4 saw 100 transactions close for just over $6.2 billion, representing 61% of the dollar volume for 2021 and 42% of transactions.
“The Manhattan investment sales market recorded the highest quarterly dollar volume since the third quarter of 2018 and the largest for total transaction count since t4 2018, a strong indication of investors restored confidence in the Manhattan market,” said James Nelson, head of Tri-State Investment Sales at Avison Young.
Residential demand returning to Manhattan accounted for the big share that multifamily enjoyed. “Momentum in this sector is poised to continue as we anticipate a wave of 1031 capital to hit the market in the first half of 2022 that we haven’t experienced in close to a decade,’ said Nelson.
- ◦Sale/Acquisition

