Bright 2013 for Multifamily
May and June's strong NYC multifamily figures will continue in Q3 and Q4, says Ariel Property Advisors president Shimon Shkury (center, with his team). His firm's contracts and closings also support a robust second half, he says, adding that it has closed on 18 multifamily properties totaling $80M in Queens, the UWS, Northern Manhattan, and the Bronx since the beginning of Q3. Ariel's Multifamily Month in Review shows that July multifamily transactions increased 43% over July 2012 to 60, buildings sold rose 88% to 109, and dollar volume jumped 90% to $1.1B because of one $600M Manhattan portfolio sale. July sales figures were stable compared to June, which had 68 transactions totaling 109 buildings and $1B. Click here for a copy of our sponsor's MFMIR.