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A blog for breaking sales and neighborhood real estate news.

October 28, 2015 | Commercial Observer | Bob Knakal

Last week, I wrote about how the investment sales market is performing on a citywide basis (2015 will undoubtedly set a new all-time record), but if we disaggregate the citywide information, here is what is happening in each geographic submarket.

Manhattan: South of 110th Street on the West Side and south of 96th Street on the East Side there has been $42.1 billion in sales in 1-3Q15, which, if annualized, is on pace for $56.17 billion. Notably, the $42.13 total already eclipses last year’s annual total. The present pace, if realized, would be 33.4 percent above 2014, and would establish a new all-time record by 6.9 percent over 2007’s $52.5 billion. Eight hundred and eleven properties have traded hands in Manhattan thus far in 2015, which is on pace for 1,081 for the year, 6.4 percent above last year’s 1,016, but will fall short of 2012’s record of 1,200 properties sold...

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