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.