The Reel

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A blog for breaking sales and neighborhood real estate news.

In 2Q15, 90 properties sold in Northern Manhattan, up from 71 properties sold in 1Q15.  Aggregate sales consideration in 2Q15 was $560M, an increase of 47% from 1Q15 and the second-highest quarterly total since 3Q13.  Northern Manhattan's cap rates compressed a further 56 bps from 2014, to 4.5%.