News

Massey Knakal has just presented our 1st Half 2011 Property Sales Report for New York City. Our company tracks every sale which occurs in the Bronx, Brooklyn, Manhattan, Northern Manhattan, and Queens. Our sales force of 50 agents help compile this information throughout our four offices. As a result, we have detailed comparable sale and trend information for all property sales in the area.

We reported that 1H11 had the highest dollar volume in sales since 1H08 with a total of $12.6B. This was a 52% increase over 2H10 and a 103% increase over 1H10. Manhattan accounted for the bulk of this volume with $11B in sales, an increase of 56% from 2H10 and 124% from the same period last year. Thus far, there have been 960 properties sold, up 15% from the same period last year, representing an annualized turnover of 1.16%.