The submarket reports are an in-depth look at the specific Investment Sales markets in Brooklyn, Bronx, Manhattan, Northern Manhattan and Queens.
We seek to provide our readers with an overview of the market activity, benchmark transactions, and pricing trends that impact each individual real estate market.
Fed Raises Rates by .25%; Shifting to Slower Pace While Assessing Progress:
Capital Markets Monthly
At its first meeting of the year, the Federal Reserve voted unanimously to raise the target range for the federal funds rate by 1/4 percentage point to 4.5% to 4.75%. With the latest increase, the Fed has raised interest rates by 4.5% in the last year and continues to significantly reduce the size of its balance sheet. While remaining committed to reducing the inflation rate to 2%, policymakers plan to implement rate increases at a slower pace while assessing the effectiveness of their restrictive monetary policy. Inflation continued to skew steadily downward in December with an annual increase of 6.5%, down from its 9.1% peak in June.
Episode 64: NYC Multifamily Sales Enjoy Best Year Since 2016
In this episode, Shimon Shkury and Victor Sozio discuss the findings in Ariel’s recently released 2022 Multifamily Year in Review research report, which highlights sales of buildings with 10+ units citywide and in Manhattan, Northern Manhattan, Brooklyn, the Bronx, and Queens.
24.44’ Wide, 4-Story Walk-Up Building - Delivered Vacant - Prime East Village Location: 429 East 12th Street
429 East 12th Street is currently a 24.44’ wide, 4-story walk-up building with approximately 4,336 sq. ft. that previously served as a convent. The first and second floors currently contain several communal spaces, 1.5 baths and 2 full kitchens.