Is Manhattan s commercial property sales slump over? Sales are up 34 percent in the first half of 2018: report

Manhattan Skyline and an arrow (Credit: Pixabay)

It appears Manhattan commercial property sales are emerging from a two-year slump.

More than $22.5 billion in sales of office towers and apartment complexes were sold in the first half of 2018, a 34 percent increase on the same time the previous year, according to Bloomberg. Citing a recent Cushman Wakefield report, the outlet stated the sales figure is s爱上海

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ti上海千花网龙凤论坛

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ll far short of an early-2015 high of $38 billion.

The two-year low is believed to have been caused by concern for rising interest rates and hesitancy from foreign buyers.

A similar prediction was made in February 新爱上海同城对对碰论坛

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that suggested the slump was over. In 2017, large deals over $100 million totaled $11.6 billion in 2017 compared t上海贵族宝贝交流区

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o the 2016 total of $23.5 billion for such transactions.

The report also pointed to dire state of retail real estate, which showed property values declined 15 percent in the past year. However, there are still large commercial deals being done, 阿爱上海同城

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including Google’s acquisition of Chelsea Market for $2.4 billion last year. [Bloomberg] —David Jeans 

Tags: Commercial Real Estate, Cushman Wakefield
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