Block by Block: 1H22
After a strong finish to 2021 that saw 1,808 transactions across New York City, resulting in $23 billion in activity closed, the first half of 2022 has underperformed in the face of new headwinds that affected the market. First, there was a general expectation that the first quarter would see reduced transactional volumes due to […]
Quarterly Report
Quarterly Reports
Block by Block: 1H22
After a strong finish to 2021 that saw 1,808 transactions across New York City, resulting in $23 billion in activity closed, the first half of 2022 has underperformed in the face of new headwinds that affected the market. First, there was a general expectation that the first quarter would see reduced transactional volumes due to […]
Block by Block: 4Q21
For the first time since the pandemic began, broker optimism about an investment sales market recovery in New York City began to materialize during the fourth quarter. As a result, the pace of transactions in the fourth quarter of 2021 accelerated to pre-pandemic levels, including a surge of larger deals in Manhattan that produced the […]
Block by Block: 3Q21
The New York City investment sales market continues to climb out of the COVID-induced commercial property market recession. While there is a tangible sense of optimism and markets are beginning to return to long-term averages, the recovery seems to remain constrained by externalities impacting the market.
Block by Block: 1H21
A sense of optimism and excitement is being felt in the investment sales property market following the easing of COVID restrictions and the reopening of many businesses in New York City.
While the transactional numbers have yet to fully demonstrate that optimism, there are promising signs indicating that the second half of the year should return to the transactional averages of 2018.
Block by Block: 1Q21
The New York City investment sales market started the new year with the same muted market-wide performance that it ended with in 2020. While the first quarter’s results left much to be desired, we remain confident that the second half of 2021 will see a return to the long-term transactional averages as the vaccine rollout continues its momentum and businesses and people alike begin to return to the city.
2020 Market Update & 2021 Predictions
2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.
Block by Block: 1H20
After a challenging year in 2019, 2020 started off in positive fashion with the first quarter showing promising returns in both dollar volume and transactions. The market finally began to show signs of life following the rent regulation changes in June 2019 as dollar volume and transactions appeared to be trending back towards long-term averages.
Block by Block: 4Q19
2019 was a tumultuous year for the New York City investment sales market. There was Amazon’s derailed plan for its HQ2 in Long Island City, along with sweeping rent reform legislation from the state government.
Even with external factors potentially wreaking havoc, the investment sales market finished 2019 with a total dollar consideration of just under $34B — a decline of 7% from 2018 but a slight increase (+2%) from two years ago.
Block by Block: 3Q19
As the new reality of stricter rent regulations becomes clear, the investment sales market in New York City continues to underperform its historical trend. That’s pushed the trajectory of industrial and retail in very different directions.
Block by Block: 1H19
The investment sales market in New York City continued its sluggish performance through the second quarter of 2019. But even in this environment, opportunity still exists in certain pockets of the city. So B6 tapped three of its brokers to find out where they see potential upside in their neighborhoods.
Block by Block: 1Q19
The investment sales market in 2019 got off to a slow start amid uncertainty in the broader economy and speculation about major rent reforms this summer. But even amid a market slowdown, development is continuing thrive.
Insights
2020 Market Update & 2021 Predictions
2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.
B6’s 2020 Predictions Report
Last year was a tumultuous one for the investment sales market in New York City. New rent regulation put a damper investors’ appetites after the state’s legislation passed in June. Even amid a roaring economy, 2H19 was a sluggish one.
As we head into 2020, there’s cautious optimism around the B6 offices. We surveyed our investment sales and capital advisory teams to gauge opinions on where the market is headed. Here’s what we found.
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