Multifamily and development sales push investment property transactions to new heights
Robust multifamily and development site sales pushed Brooklyn’s investment property transactions to new heights in 2013, Ariel Property Advisors’ Brooklyn 2013 Year-end Sales Report shows.
Brooklyn saw 1,047 transactions comprised of 1,388 properties totaling $4.052 billion in gross consideration in 2013, a 31 percent increase in transactions and 30 percent increase in properties sold compared to 2012. There was a slight 4 percent year-over-year decline in dollar volume, however, largely because there were fewer high value institutional deals in the borough during the year.