{"id":11543,"date":"2013-02-12T12:23:39","date_gmt":"2013-02-12T16:23:39","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=11543"},"modified":"2014-07-07T06:28:16","modified_gmt":"2014-07-07T10:28:16","slug":"5-year-high-for-nyc-commercial-sales-volume","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2013\/02\/12\/5-year-high-for-nyc-commercial-sales-volume\/","title":{"rendered":"5-Year High for NYC Commercial Sales Volume"},"content":{"rendered":"

2012 saw a substantial increase in both commercial sales volume and number of transactions. The NYC commercial sales<\/a> volume reached a 5-year peak due especially to the sales from the last quarter, which surpassed the third quarter by 73%. The sales volume from the year’s last 3 months greatly contributed to an overall increase of 4% in 2012, as compared to 2011.<\/p>\n

As you can see from the chart, the number of commercial transactions also reached a 5-year peak last year. The surge recorded in the 4th quarter helped 2012 beat the overall activity in 2011 by 20%.<\/p>\n

\"nyc<\/a><\/p>\n

Over $5 Million Transactions<\/strong>
\nCommercial transactions higher than $5 million, accounted for $23.5 billion of the total sales volume in New York City. It’s no surprise that 72% of these transactions (495 in all) were from Manhattan.<\/p>\n

Five Borough Overview<\/strong>
\nWhile Manhattan continued to lead the city in terms for sales volume ($21,872,412,194), the commercial activity in the borough remained steady compared to 2011.The surprise came from Brooklyn last year: the borough managed to register a 5-year record in commercial transactions due to the sale of the Kings Plaza Mall, which raked in $751,000,000.<\/p>\n

Office and Retail Buildings<\/strong>
\nDespite the overall commercial market increase, the sales volume\u00a0recorded by the office market<\/a> ($14.9 billion) was down 10% in 2012\u00a0compared to 2011, but it is still 37% up over 2008.\u00a0The price per\u00a0square foot for this segment was $569 in 2012, reaching a 5-year\u00a0high.<\/p>\n

Accounting\u00a0$3.25 billion, the retail market<\/a> transaction volume almost doubled in 2012 compared to 2011 and was 86% higher than the value recorded in 2008.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The surprise came from Brooklyn last year: the borough managed to register a 5-year record in commercial transactions due to the sale of the Kings Plaza Mall, which raked in $751,000,000.<\/p>\n","protected":false},"author":67,"featured_media":11547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[376,328],"tags":[319,238,186],"class_list":["post-11543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york-commercial-real-estate","category-new-york-real-estate","tag-commercial-real-estate-brooklyn","tag-manhattan-commercial-spaces","tag-nyc-commercial-properties"],"yoast_head":"\n5-Year High for NYC Commercial Sales Volume - PropertyShark Real Estate Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2013\/02\/12\/5-year-high-for-nyc-commercial-sales-volume\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5-Year High for NYC Commercial Sales Volume\" \/>\n<meta property=\"og:description\" content=\"The surprise came from Brooklyn last year: the borough managed to register a 5-year record in commercial transactions due to the sale of the Kings Plaza Mall, which raked in $751,000,000.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2013\/02\/12\/5-year-high-for-nyc-commercial-sales-volume\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-12T16:23:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-07-07T10:28:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2013\/02\/nyc-sales-volume-by-qr.png\" \/>\n\t<meta property=\"og:image:width\" content=\"836\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"PropertyShark Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PropertyShark Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"5-Year High for NYC Commercial Sales Volume - 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