NYC Multifamily Investment Sales Rise 17% Y-O-Y in Q3

New York City’s multifamily investment sales market gained momentum in the third quarter, rising to $2.55 billion in dollar volume, up 14% quarter-over-quarter and 17% year-over-year, according to Ariel Property Advisors’ Q3 2025 Multifamily Quarter in Review New York City. Transactions totaled 331, up 7% from Q2 2025 and up 23% from Q3 2024.

Nearly half the Q3 dollar volume was in Manhattan, where sales were dominated by well-capitalized investors targeting high-value free-market multifamily assets. The quarter’s two largest trades included GO Residential Real Estate Investment Trust’s $352.2-million acquisition of an approximately 30% stake in a three-building Upper East Side luxury multifamily portfolio, and JPMorgan Asset Management’s acquisition of a 44-story, 422-unit luxury apartment building at 560 W. 43rd St. for $243.5 million.

“Investors continue to favor free-market multifamily buildings, which made up 84% of New York City’s dollar volume in Q3,” said Ariel president and founder Shimon Shkury. “Regulatory flexibility, rent growth and steady demand keep driving that strength, while rent-stabilized assets remain challenged” since passage of the Housing Stability & Tenant Protection Act of 2019.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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