After two subdued years in New York City’s multifamily market, a rebound is taking shape as investors return with renewed confidence and capital. JLL senior managing directors Rob Hinckley and Jeffrey Julien cite stabilizing borrowing costs, tightening rental supply and improving price discovery as key drivers of the recovery.
Over the past three years, Hinckley and Julien have arranged more than $5.3 billion in multi-housing transactions across New York City. While sales volume peaked in 2022, activity has been steadily rising through 2023 and 2024. Based on year-to-date momentum, the pair project sales volume could reach $8 billion to $10 billion in 2025. They see strong fundamentals and pent-up investor demand fueling increased transaction activity, competitive bidding and heightened interest in income-generating properties — particularly free-market and luxury assets that offer rent flexibility and long-term upside.
In an interview, the duo shared their insight
