NYC Commercial real estate prices remain strong

According to the latest study from Ariel Property Advisors, the dollar volume of commercial real estate deals is up about 28% year to date over the same period in 2017. Additionally, 4 of the 5 boroughs are showing price increases in multi-family. Manhattan was up 16% price per unit versus last year. Only Brooklyn’s price per unit decreased.

This is consistent with what I am seeing which is continued foot traffic at my exclusives which include a 12 unit near Madison avenue in Central Harlem for $5.7 million and a 4500 sqft SRO in Mount Morris. Additionally, there is plenty of interest in 20-40 unit buildings Uptown with little inventory.

Commercial Observer coverage

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.

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