Office (NYC Spotlight)
New York City Spotlight: Sales Slowdown
By Georgiana Mihaila 2014 kicked off with a rather sluggish sales pace for the commercial real estate sector, with sales dropping by more than half compared to the first quarter of 2013. The overall sales volume for the first quarter accounted for slightly over $6.6 billion, com- pared to an impressive $16 billion recorded within the same timeframe last year. While the numbers might seem gloomy, the slowdown can be partially credited to a limited number of transactions over $50 million. In the first quarter of 2013, there were 62 high-profile transactions above $50 million, whereas in the first quarter…
New York City Spotlight: Going Up
(office transactions by quarter, 2012-2013)
New York City Spotlight: Leading the Market
(top 10 commercial transactions in fourth quarter 2013)
Annual Increase?
(commercial lis pendens) By Laura Gatea There were 662 commercial lis pendens in New York City in the third quarter of 2013, 3 percent more than the number recorded for the same quarter in 2012 but 7 percent lower than the previous quarter. Brooklyn compiled 53 percent of the total commercial lis pendens activity in the city in the third quarter, although the total number was down 3 percent from the second quarter. Manhattan recorded 76 such proceedings in the third quarter, 17 percent more than a year ago and 12 percent less than in the previous quarter. Lis pendens…
