Research - MAY 5, 2016

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New York City office market bounces back in Q2

by Andrea Waitrovich

Transaction volume in the New York City office market during second quarter 2016 already exceeds the first quarter 2016 total, according to Real Capital Analytics.

It was a slow first quarter 2016 for the New York City office market, its  sales volume of $5 billion was significantly lower than the $6.7 billion in deals closed during first quarter 2015. However, thus far this quarter, 23 office buildings in New York City have been exchanged for a total value of more than $8 billion, which exceeds not only first quarter 2016 sales volume but also second quarter 2015 sales volume ($6.2 billion).

Recent office transactions include the property at

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