The chapter discusses the decline in annualized sales in New York City, which is attributed to rising interest rates. Many investors have been hesitant to enter the market due to uncertainty regarding the future direction of interest rates. The chapter also explores how the expectation of higher interest rates for a longer period may impact investment sales in New York.
You know the story: interest rates rose and deal flow slowed. After a year and half of sluggish trading, what's next for NYC's investment sales market? Avison Young's Head of Tri-State Investment Sales James Nelson lays out the market dynamics set to drive office and multifamily deals. Ariel Property Advisors' Founder Shimon Shkury gets granular on the distress affecting the rent-stabilized market.