Last week, in this column, I wrote about the overall investment sales market in New York City and its performance thus far through the first quarter of 2015. It appears that, on a citywide basis, the market has picked up right where it left off in 2014, which is remarkable given the epic year that last year was.
To recap, in 2014 there were $57.7 billion of investment sales citywide. This total was not quite the record of $62.2 billion seen in 2007 but still represented a 50 percent increase over the $38.4 billion which occurred in 2013. In terms of number of properties sold, the 2014 total reached an all-time record by a wide margin. There were 5,532 properties sold last year, eclipsing the 5,018 sold in 2007 by more than 10 percent. Read More