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New York & Tri-State  + Midtown New York  + Apartments  | 

NYC Multifamily Sales Rise YTD Despite Sharp Pullback in Q3

New York City multifamily sales totaled $6.99 billion across 1,044 transactions in the first three quarters of 2026, representing increases of 7.9% and 11.5%, respectively, Ariel Property Advisors reported. Dollar volume for Q3, though, fell 23.3% year-over-year to $1.84 billion, the lowest quarterly dollar volume since Q1 2024. The pullback was concentrated at the top of the market, with four transactions of $50 million or more totaling $388.7 million, compared to eight totaling $999.2 million in Q3 2025.  

“Last quarter we continued to see a clear divergence in performance across multifamily property types,” said Shimon Shkury, president and founder of Ariel. “Free-market properties and subsidized affordable housing with predictable cash flows continue to attract strong investor interest, while rent-stabilized assets face significant valuation pressure from regulatory constraints and financing challenges.”

Citywide, buildings with 75%+ free market units accounted for 63.1% of dollar volume in Q3. Buildings with 75%+ rent-stabilized units represented 19.2% of the market and affordable housing 8.3%.

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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 19-plus years’ experience covering the commercial real estate industry and 35-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 11-15 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).

  • ◦Sale/Acquisition
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