The Reel

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A blog for breaking sales and neighborhood real estate news.

The multifamily sector saw 18 properties sold, the same total as
2013,  with six  properties  sold  in  the  fourth  quarter. Total  dollar
volume ended the year at $95 million, falling by 21% from 2013’s total, with $14 million sold in 4Q14, a decrease of 14% from 4Q13. Price per square foot averaged $156, an increase of 19% from 2013’s average, with  the  fourth  quarter  averaging  $134,  down  2%  from  4Q13’s average. Cap rates fell 32 bps on the year, to 6.5%.