NYC multifamily transactions fall below 100 transactions for first time since Q2 2010

During the first quarter of 2019, the New York City multifamily market experienced declines in comparison to 2018, according to research by Ariel. With the political power shift that occurred in the New York State Assembly during this past November, impending legislation pertaining to rent regulation is expected to be enacted later this year.

New York City saw 75 multifamily transactions comprised of 110 buildings totaling $2 billion in gross consideration for the first quarter of the year. When compared to the previous quarter, these figures represent year-over-year decreases of 31 percent and 59 percent for transaction and building volume, respectively. New York City has not seen transaction volume fall below 100 transactions since second quarter 2010. In fact, transaction volume has not been this low since the third quarter of 2010. With regard to dollar volume, the gross consideration