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New York & Tri-State  + New York  + Finance  |  April 30, 2024
Emily Fu
By: Emily Fu

Manhattan Records $2.2B Property Sales in Q1 

The Manhattan investment sales market had a strong start in 2024, with 50 transactions totaling $2.2 billion in the first quarter, surpassing any quarter in 2023, according to Avison Young’s Q1 2024 Manhattan Property Sales Report.  

The multifamily/mixed-use sector saw $535.2 million in sales volume, up 87% from the previous quarter, with notable transactions like The Carlyle Group & Gotham Organization’s purchase of 200 West 67th Street. Retail sales totaled $1.2 billion, up 147% from the previous quarter, with Kering’s purchase of retail condos at 715-719 Fifth Avenue standing out.  

The office sector recorded $189.0 million in sales, down 73% from the previous quarter, while the development market saw $205.8 million in sales, down 27% from the previous quarter. Despite quarterly fluctuations, there is optimism for the market’s performance in future quarters. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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