Multifamily Sales Keep Climbing
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Strong pricing spurred year-over-year gains in October, reports Ariel Property Advisors president Shimon Shkury (in front, with Michael Tortorici, Ivan Petrovic, and Victor Sozio). Seventy transactions (a 40% increase over October 2012) comprising 99 buildings (41% increase) sold for $648.3M gross (61% increase), according to Ariel's Multifamily Month in Review. Brooklyn led with 32% of buildings sold, Manhattan captured 34% of dollar volume, and the Bronx and Queens showed dramatic year-over-year and month-to-month gains in all three metrics. Click here for a copy of our sponsor's October MFMIR.