Manhattan investment sales activity increases in 4Q20 compared with 3Q20

Manhattan investment sales saw a significant increase in activity in the fourth quarter with $2.2 billion in total dollar volume across 44 sales, compared with $1.1 billion in total volume across 21 sales in the third quarter 2020, according to Avison Young’s Manhattan property sales report for fourth quarter 2020.

“We are very encouraged to see Manhattan sales volume double from third quarter 2020 to fourth quarter 2020,” said James Nelson, principal and head of Tri-State Investment Sales for Avison Young. “With values dipping, we see this as a generational opportunity for buyers to take advantage of cap rate spreads (above the 10-year Treasury) not seen in the last decade.”

Despite the quarter-over-quarter increase, investment sales dollar volume dropped year-over-year 58 percent and sales fell 45 percent in fourth quarter 2020, compared wit