Massey Knakal Realty Services is pleased to announce the release of their exclusive Third Quarter 2014 Property Sales Reports. These unique, industry-leading, reports provide a comprehensive study of the investment sales market by product type in the New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens).
“After a torrid start to the year, sales volumes stepped back a bit in the third quarter as market dynamics continued to exert upward pressure on record setting property values which continue to escalate. The pace of the dollar volume of sales continues slightly off the 2007 peak while the number of properties sold remains on an all-time record pace,” stated Bob Knakal, Massey Knakal Chairman.
Through the first three quarters of 2014, the New York City investment sales market continued its strong performance, with nearly $39 billion in total dollar volume. 2014 has already surpassed 2013’s annual dollar volume, and is on pace for $52 billion.
“We expect a strong fourth quarter and for dollar volume to accelerate in the final quarter, ending the year north of $60 billion,” said Adrian Mercado, Vice President, Research.
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