Market Reports and Studies
Miller Cicero independently prepares a series of market reports covering the New York City investment property market on behalf of Massey Knakal, a leading commercial real estate brokerage firm. The reports available for download as Adobe Acrobat © PDF files below.
View our report methodology.
A survey of New York City Income Properties
The number of closed sales was up 11.3% in the first half of 2007
compared to the prior six month period, driven by the sales activity
in Manhattan, including Northern Manhattan. Manhattan saw
twice as many walk ups sold in the first six months of 2007
compared to the second half of 2006. Along with the increase in
the number of sales, the median price of a Manhattan apartment
building showed a sharp increase as well, breaking $500 per
square foot for the first time. The median price of a walk-up
apartment building in Northern Manhattan also set a record,
exceeding $300 per square foot. The outer boroughs were mixed,
however, as the price of walk-up apartment buildings in Brooklyn
and Queens remained relatively flat, while Bronx saw a decline in
price to $100 per square foot. The cap rates for walk-up apartment
buildings, which comprise the greatest sample size, illustrated
further compression in Manhattan, including Northern Manhattan,
and generally remained flat in the Bronx, Brooklyn and Queens...
Download prior reports:
New York City Income Property Market Report [2H06]
New York City Income Property Market Report [1H06]
aka Massey Knakal Premium Study
A study by John Cicero, MAI, CRE of Massey Knakal building sales in 2005 relative to all building sales. Specific methodology of the study is attached to the report.
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