NYC Investment Sales Reports

First Half 2020 NYC Investment Sales Report

REBNY Press

August 27, 2020

In the first half of 2020, with 1,229 recorded transactions encompassing all commercial sales and multifamily rental properties, total investment sales consideration reached $10.5 billion. This represents a 32% decline in the volume of transactions and a 54% decline in total consideration compared to the first half of 2019. These figures represent all-time lows since REBNY’s reporting began in 2015. Overall, sales of multifamily rental properties declined 51% and transactions declined 29% compared to the first half of 2019. The largest transaction this reporting period was the $978 million sale of the Lord & Taylor Building, 424 5th Avenue, from WeWork to Amazon in March.