NYC multifamily market sees drop in deals, spending in Q3

Multifamily investors purchased fewer New York City buildings and spent less in the third quarter of 2016, according to the latest report from Ariel Property Advisors. Spending on multifamily properties totaled $3.1 billion between July and September, down 15 percent from the second quarter and 18 percent year-over-year. Sales especially took a hit in August,[…]

Judge throws out Brooklyn Bridge Park group’s suit against Pierhouse developers

A Brooklyn judge tossed out a second lawsuit brought by DUMBO community group Save The View, which aimed to block developers from finishing construction at 130 Furman Street in the Pierhouse development along the Brooklyn Heights waterfront. Save The View joined with the Brooklyn Heights Association sued Toll Brothers City Living and Starwood Capital last year, alleging[…]

Manhattan’s dev sites, rental buildings get a price boost in first half of 2016

Demand for Manhattan investment properties fell in the first half of 2016, although buyers were willing to pay a higher price per square foot for multifamily buildings and development sites, according to a mid-year report from Ariel Property Advisors. Buyers shelled out $19.3 billion for 361 investment properties in the borough, down 13 percent and[…]