The Reel

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A blog for breaking sales and neighborhood real estate news.

By, James Nelson

2014 was the year of the boroughs for New York City. After the correction in the market in 2009-2010, we saw a flight to safety with Manhattan sales leading the recovery.

In 2011, Manhattan generated 32% of the sales even though the borough accounts for only 17% of the properties, according to data by Massey Knakal (now Cushman & Wakefield).

This year, it looks like that level will decline to a more proportionate share of the sales with “only” 17% of the sales, meaning that the Boroughs should end up with about 83% of the City’s activity.

Click here to read article in Real Estate Weekly