{"id":36233,"date":"2019-10-29T13:26:24","date_gmt":"2019-10-29T11:26:24","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=36233"},"modified":"2025-07-10T09:25:27","modified_gmt":"2025-07-10T06:25:27","slug":"nyc-multifamily-sales-sept","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/NYC-multifamily-sales-september-2019","title":{"rendered":"NYC Multifamily Market Continues Slowdown in September, Y-O-Y Sales Volume Declines 76%"},"content":{"rendered":"<h2><strong>Key Takeaways:<\/strong><\/h2>\n<ul>\n<li><strong>September slowest sales month for NYC multifamily, down 51% Y-O<\/strong><strong>-Y<\/strong><\/li>\n<li><strong>Queens doubles September sales volume<\/strong><\/li>\n<li><strong>Bronx prices hit lowest figure in 18 months<\/strong><\/li>\n<li><strong>YTD unit volume down 74% in Brooklyn<\/strong><\/li>\n<li><strong>Y-O<\/strong><strong>-Y sales volume falls 81% in Manhattan<\/strong><\/li>\n<li><strong>City-wide sales volume drops 76% Y-O-Y<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Sales-Volume_Multifamily-Report_sept-2019-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36407\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Sales-Volume_Multifamily-Report_sept-2019-1.png\" alt=\"\" width=\"999\" height=\"640\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Sales-Volume_Multifamily-Report_sept-2019-1.png 999w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=300,192 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=768,492 768w\" sizes=\"auto, (max-width: 999px) 100vw, 999px\" \/><\/a><\/p>\n<p>New York City\u2019s new Housing Stability and Tenant Protection Act of 2019 (TPA) sent shockwaves through the residential and <a href=\"https:\/\/www.propertyshark.com\/cre\/commercial-real-estate\/us\/ny\/new-york-city\/\" target=\"_blank\" rel=\"noopener noreferrer\">commercial real estate<\/a> market, especially the multifamily sector. While plenty has been said about the new law\u2019s effects, we were curious to see exactly what dynamics were at play in a post-TPA multifamily market. We analyzed multifamily sales in Manhattan, Brooklyn, Queens and the Bronx for the month of September to get an accurate snapshot of the situation on the ground.<\/p>\n<p>The key trend for the city\u2019s multifamily market in September was a large-scale slowdown. City-wide, sales volume fell a staggering 76%, totaling a mere $284 million across the four boroughs. By comparison, in September 2018, Manhattan alone registered $837 million in multifamily sales. Sales activity also dropped sharply, falling 34% year-over-year. In fact, the 55 deals registered in September represent the slowest month for NYC multifamily sales in at least 33 months (we analyzed monthly sales data going back to January 2017).<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Sales-Activity-by-Borough_Multifamily-Report_sept-2019-update.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36402\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Sales-Activity-by-Borough_Multifamily-Report_sept-2019-update.png\" alt=\"\" width=\"1000\" height=\"635\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Sales-Activity-by-Borough_Multifamily-Report_sept-2019-update.png 1000w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Sales-Activity-by-Borough_Multifamily-Report_sept-2019-update.png?resize=300,191 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Sales-Activity-by-Borough_Multifamily-Report_sept-2019-update.png?resize=768,488 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p>But it wasn\u2019t just that there were significantly fewer deals closed this September compared to September 2018; the size of the multifamily properties that were traded fell, as well. While there were 34% fewer multifamily sales registered last month than one year ago, unit volume was halved. Only 1,146 multifamily units traded hands last month across the four boroughs, while September 2018 saw 916 units traded in the Bronx alone.<\/p>\n<p>Additionally, year-to-date unit volume across the four boroughs was 51% lower than the same period last year, and 7% lower than it was two years ago. Between January 1 and September 30 of the current year, 14,509 multifamily units were sold, while the same period last year saw 25,368 units go under new ownership. \u00a0NYC\u2019s year-to-date sales volume stood at $6.65 billion in September \u2013 nearly $2 billion less than the first nine months of 2018, which registered $8.57 billion in multifamily sales.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Price-sqft_Multifamily-Report_sept-2019.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36389\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Price-sqft_Multifamily-Report_sept-2019.png\" alt=\"\" width=\"900\" height=\"602\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Price-sqft_Multifamily-Report_sept-2019.png 900w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Price-sqft_Multifamily-Report_sept-2019.png?resize=300,201 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Price-sqft_Multifamily-Report_sept-2019.png?resize=768,514 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>At $335,032, September\u2019s average price per unit stayed in line with the city\u2019s downward trend \u2013 depreciating 17% year-over-year \u2013 while the $380 average price per square foot was 15% lower than in September 2018. Both figures were also lower than their September 2017 values.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Manhattan_Multifamily_Units_Hit_Hardest_Sales_Volume_Plummets_81\"><\/span><strong>Manhattan Multifamily Units Hit Hardest; Sales Volume Plummets 81% <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Much of NYC\u2019s post-TPA multifamily slowdown was fueled by sharp drops in Manhattan\u2019s multifamily scene. As the city\u2019s most expensive submarket, Manhattan\u2019s influence over city metrics is undeniable: in 2018, nearly half of NYC\u2019s $11.8 billion sales volume originated in Manhattan, which totaled $6.2 billion in multifamily sales.<\/p>\n<p>As sales volume fell 76% across the four boroughs, Manhattan\u2019s sales volume was in freefall in September, plummeting 81% year-over-year. What\u2019s more, this came on the heels of August\u2019s 52% year-over-year contraction. Last month\u2019s $163 million sales volume was a mere fraction of September 2018\u2019s $837 million in multifamily sales, or even the $413 million recorded in September 2017.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Volume_Multifamily-Report_sept-2019-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36405\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Volume_Multifamily-Report_sept-2019-1.png\" alt=\"\" width=\"1000\" height=\"597\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Volume_Multifamily-Report_sept-2019-1.png 1000w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=300,179 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=768,458 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p>Manhattan\u2019s multifamily slowdown is also emphasized by year-to-date figures: while the first nine months of 2018 totaled $4.43 billion in sales, the borough has recorded only $2.96 billion in multifamily sales year-to-date. That\u2019s just $200 million more than Brooklyn saw during the same period last year.<\/p>\n<p>Sales activity also fell in <a href=\"https:\/\/www.propertyshark.com\/cre\/commercial-real-estate\/us\/ny\/manhattan\/\" target=\"_blank\" rel=\"noopener noreferrer\">Manhattan<\/a>, dropping 71% year-over-year with only seven deals closed. Of that, three transactions represented the overwhelming majority of the borough\u2019s sales volume, totaling $153 million, as well as the city\u2019s top three priciest deals. In particular, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/38938046\/400-W-113-St-New-York-NY-10025\/\" target=\"_blank\" rel=\"noopener noreferrer\">400 W 113 Street<\/a>, a 430-unit high-rise in Morningside Heights, was NYC\u2019s most expensive multifamily deal in September at $57 million. It was followed by the $44,792,000 price tag fetched by the East Village\u2019s <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/7232\/60-E-12-St-New-York-NY-10003\/\" target=\"_blank\" rel=\"noopener noreferrer\">60 E 12th Street<\/a>. <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/22531\/18-E-73-St-New-York-NY-10021\/\" target=\"_blank\" rel=\"noopener noreferrer\">18 E 73<sup>rd<\/sup> Street<\/a> in Lenox Hill rounded out the podium at $27 million.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Activity_Multifamily-Report_sept-2019.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36387\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Activity_Multifamily-Report_sept-2019.png\" alt=\"\" width=\"900\" height=\"505\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Activity_Multifamily-Report_sept-2019.png 900w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Activity_Multifamily-Report_sept-2019.png?resize=300,168 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Manhattan-Sales-Activity_Multifamily-Report_sept-2019.png?resize=768,431 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>As proved by the location of NYC\u2019s top deals, Manhattan remains the absolute price leader despite massive slowdowns in sales. In fact, the borough saw a 12% uptick in its price per square foot compared to 2018 figures, while its price per unit expanded 40% \u2013 surpassing the $1 million mark. However, unit volume was down sharply, with only 663 units sold last month, compared to 1,308 in September 2018.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Transactional_Activity_Surges_in_Queens_Sales_Volume_Doubles\"><\/span><strong>Transactional Activity Surges in Queens; Sales Volume Doubles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.propertyshark.com\/cre\/commercial-real-estate\/us\/ny\/queens\/\" target=\"_blank\" rel=\"noopener noreferrer\">Queens<\/a> was the darling of NYC multifamily in September, with $29 million in sales registered, as opposed to the $14.5 million in September 2018. That 100% growth rate was fueled by an 86% acceleration in sales activity, totaling 147 units across 13 deals. Of those, the highest price was commanded by <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/443018\/18-82-Madison-St-Queens-NY-11385\/\" target=\"_blank\" rel=\"noopener noreferrer\">18-82 Madison Street<\/a>, a six-unit walk-up that sold for $2.89 million.<\/p>\n<p>However, the positive growth in Queens\u2019 September sales volume and sales activity is less a signifier of shifting slowdown trends, and more a sign of the unusually slow sales month that was September 2018. When looking at year-to-date figures, Queens is more in line with NYC\u2019s overall multifamily slowdown.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Queens-Multif-Sales_Multifamily-Report_sept-2019.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36391\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Queens-Multif-Sales_Multifamily-Report_sept-2019.png\" alt=\"\" width=\"900\" height=\"532\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Queens-Multif-Sales_Multifamily-Report_sept-2019.png 900w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Queens-Multif-Sales_Multifamily-Report_sept-2019.png?resize=300,177 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Queens-Multif-Sales_Multifamily-Report_sept-2019.png?resize=768,454 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>Year-to-date, Queens registered $795 million in sales, representing a 20% contraction over the same period last year. Year-to-date unit volume figures also emphasize the reduced transactional activity of the borough: between January 1 and September 30 of the current year, only 1,949 multifamily units were sold here \u2013 69% fewer than during the same period last year.<\/p>\n<p>Similarly, Queens posted a $276\/square foot average in September \u2013 11% lower than year-ago figures and the lowest price per square foot since October 2018. The average price per unit stood at $204,852, a 14% expansion year-over-year, and the second-lowest figure since September 2018.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Brooklyn_Multifamily_Halts_YTD_Sales_Volume_76_Below_2018_Levels\"><\/span><strong>Brooklyn Multifamily Halts, YTD Sales Volume 76% Below 2018 Levels <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With 21 deals recorded in September, Brooklyn\u2019s sales activity was down 30%, marking the second consecutive September of reduced sales activity. Those 21 deals totaled $57 million, meaning that Brooklyn\u2019s sales volume fell 68% year-over-year and 74% compared to September 2017. The priciest of those deals was the $8.2 million sale of <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/246137\/205-E-17-St-Brooklyn-NY-11226\/\" target=\"_blank\" rel=\"noopener noreferrer\">205 E 17<sup>th<\/sup> Street<\/a>, a 54-unit high-rise in Prospect Park South.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Volume_Multifamily-Report_sept-2019-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36406\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Volume_Multifamily-Report_sept-2019-1.png\" alt=\"\" width=\"1000\" height=\"575\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Volume_Multifamily-Report_sept-2019-1.png 1000w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=300,173 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Volume_Multifamily-Report_sept-2019-1.png?resize=768,442 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p>Similar to Manhattan, Brooklyn\u2019s year-to-date sales figures emphasize the multifamily market\u2019s slowdown. While the first nine months of 2018 totaled $2.76 billion in multifamily deals here, the same time frame in the current year registered only $1.51 billion.<\/p>\n<p>With just 171 units traded, September figures were down 73% year-over-year. That slowdown in transactional activity fit with the overall trend in <a href=\"https:\/\/www.propertyshark.com\/cre\/commercial-real-estate\/us\/ny\/brooklyn\/\" target=\"_blank\" rel=\"noopener noreferrer\">Brooklyn<\/a> this year: 3,639 units traded year-to-date as opposed to the 14,006 sold during the same timeframe last year, representing a sharp 74% decline.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Activity_Multifamily-Report_sept-2019.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36385\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Activity_Multifamily-Report_sept-2019.png\" alt=\"\" width=\"900\" height=\"465\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Activity_Multifamily-Report_sept-2019.png 900w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Activity_Multifamily-Report_sept-2019.png?resize=300,155 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Broolyn-Sales-Activity_Multifamily-Report_sept-2019.png?resize=768,397 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>Multifamily prices represented a mix in September: Brooklyn\u2019s $348\/square foot was a negligible 2% higher year-over-year, while the average price per unit depreciated 21% year-over-year to $271,160.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bronx_Sales_Drop_to_Single_Digits_Hit_Lowest_Prices_in_18_Months\"><\/span><strong>Bronx Sales Drop to Single Digits, Hit Lowest Prices in 18 Months<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>With just eight deals closed last month, September saw sales activity decrease 64% in the Bronx. As a result, the borough recorded a sales volume of only $28 million, representing a steep 82% decrease year-over-year. Half of that was represented by the borough\u2019s top deal, a $14-million portfolio of 11 properties located in the Bronx\u2019s Morrisania, Woodstock and Foxhurst neighborhoods.<\/p>\n<p><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Bronx-Sales-Volume_Multifamily-Report_sept-2019.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36384\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Bronx-Sales-Volume_Multifamily-Report_sept-2019.png\" alt=\"\" width=\"900\" height=\"550\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Bronx-Sales-Volume_Multifamily-Report_sept-2019.png 900w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Bronx-Sales-Volume_Multifamily-Report_sept-2019.png?resize=300,183 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/Bronx-Sales-Volume_Multifamily-Report_sept-2019.png?resize=768,469 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<p>Year-to-date trends in the Bronx lined up with those of the other three boroughs, as transactional metrics stayed below 2018 levels. The borough\u2019s year-to-date sales totaled $777 million in September, 15% less than the same time last year, while the 4,208 units sold since the start of the year represented a 31% contraction compared to the first nine months of 2018.<\/p>\n<p>Prices were also on a downward slide in September, with the Bronx\u2019s $161\/square foot the result of a 23% year-over-year drop. The average price per unit dropped at a steeper 27% rate year-over-year, bottoming out at $128,041, the lowest price per unit in the borough since March 2018.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Methodology\"><\/span><strong>Methodology<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>For September\u2019s multifamily snapshot, we took into consideration all multifamily building sales registered between January 1, 2017 and September 30, 2019 in the boroughs of Manhattan, Brooklyn, Queens and the Bronx. All sales were counted for the month they were registered in.<\/p>\n<p>All deals between related parties were also excluded. Properties with fewer than 5 units were excluded as well, as were deals with a sale price below $100,000.<\/p>\n<p>The 11-building portfolio that ranked as the top multifamily deal in The Bronx included the following properties: <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/42768\/3414-Park-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3414 Park Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/42769\/3416-Park-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3416 Park Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/42770\/3428-Park-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3428 Park Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/42771\/3430-Park-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3430 Park Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/45833\/3318-3-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3318 Third Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/45871\/3414-3-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3414 Third Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/45872\/3416-3-Ave-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">3416 Third Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/46149\/581-E-164-St-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">581 E 164th Street<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/47201\/915-Prospect-Ave-Bronx-NY-10459\/\" target=\"_blank\" rel=\"noopener noreferrer\">915 Prospect Avenue<\/a>, <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/53296\/635-E-169-St-Bronx-NY-10456\/\" target=\"_blank\" rel=\"noopener noreferrer\">635 E 169th Street<\/a> and <a href=\"https:\/\/www.propertyshark.com\/mason\/Property\/53989\/797-E-170-St-Bronx-NY-10459\/\" target=\"_blank\" rel=\"noopener noreferrer\">797 E 170th Street<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways: September slowest sales month for NYC multifamily, down 51% Y-O-Y Queens doubles September sales volume Bronx prices hit lowest figure in 18 months YTD unit volume down 74% in Brooklyn Y-O-Y sales volume falls 81% in Manhattan City-wide sales volume drops 76% Y-O-Y New York City\u2019s new Housing Stability and Tenant Protection Act&hellip;<\/p>\n","protected":false},"author":49,"featured_media":36417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[389,349,89,8245,328,373],"tags":[11171],"class_list":["post-36233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bronx-real-estate","category-brooklyn-real-estate","category-manhattan-real-estate","category-market-studies","category-new-york-real-estate","category-queens-real-estate","tag-old-study"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NYC Multifamily Report: Sales Volume Continues Decline in NYC<\/title>\n<meta name=\"description\" content=\"The key trend for the city\u2019s multifamily market in August was a large-scale slowdown. City-wide, sales volume fell a stunning 46% year-over-year, totaling only $482 million in multifamily sales.\" \/>\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\/NYC-multifamily-sales-september-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC Multifamily Market Continues Slowdown in September, Y-O-Y Sales Volume Declines 76%\" \/>\n<meta property=\"og:description\" content=\"The key trend for the city\u2019s multifamily market in August was a large-scale slowdown. City-wide, sales volume fell a stunning 46% year-over-year, totaling only $482 million in multifamily sales.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/NYC-multifamily-sales-september-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-29T11:26:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-10T06:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Multifamily-Report-September-2019.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1155\" \/>\n\t<meta property=\"og:image:height\" content=\"770\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/NYC-Multifamily-Report-September-2019.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eliza Theiss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NYC Multifamily Report: Sales Volume Continues Decline in NYC","description":"The key trend for the city\u2019s multifamily market in August was a large-scale slowdown. 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