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Massey Knakal Realty Services is pleased to announce the release of their exclusive First Quarter 2014 Property Sales Reports. These unique, industry-leading, reports provide a comprehensive study of the investment sales market by product type in the entire New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens).

“The investment sales market in New York City is about as good as it could be. Values are soaring and the volume of sales is approaching 2007 peak levels both in terms of dollar volume and number of properties sold,” stated Bob Knakal, Massey Knakal Chairman.

During the first quarter of 2014, 1,255 properties sold, which represents the strongest first quarter since 2007 and is an increase of 108% from 1Q13. NYC is expected to sell 5,020 properties by years end, putting it on pace to exceed its all-time high of 5,018 properties set in 2007. With an aggregate total of $13.3 billion, the city-wide dollar volume in 1Q14 was up 98% from the same quarter a year ago and also represents the strongest first quarter since 2007. Annualizing the first quarter, NYC’s dollar volume is on track to reach $53.1 billion in 2014, an increase of 39% from 2013.

Click here for press release