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NYC Multifamily Sales Up 62% Year-Over-Year in Q1
New York City’s multifamily dollar volume totaled $2.21 billion in the first quarter of 2025, a 62% year-over-year increase with sales largely concentrated in market-rate assets, according to Ariel Property Advisors’ Q1 2025 Multifamily Quarter in Review New York City. Transaction volume rose 5% year-over-year to 269 closed deals.
Predominantly market-rate assets accounted for 88% of Q1’s total dollar volume, the highest share on record, and 58% of all multifamily transactions, Ariel reported. Rent-stabilized properties represented 41% of the transactions in Q1 2025 but only 11% of total dollar volume, the second-lowest share in the past five years.
“The surge of interest in free market multifamily properties from all investor types is a clear vote of confidence,” said Ariel president and founder Shimon Shkury. “It signals where capital wants to be — in assets with stable fundamentals and upside — especially as rent-stabilized properties remain clouded by regulatory uncertainty.”
Pictured: The Hub in Brooklyn, on which Steiner NYC bought out equity partner JPMorgan Asset Management.
- ◦Sale/Acquisition
