2014 Record Year for NYC Real Estate | Robert Khodadadian
NYC – The numbers are in and it seems the commercial real estate market in New York City broke records in 2014. In fact, when looking across all five boroughs, it seems that more commercial properties were sold in the city than in any year prior. Not only were more properties sold than average in 2014, but the value that they were sold at also soared. In fact, reports indicate that average property sales rose by 20%. All of these signs are great indicators that investors from all over the world are looking at NYC as an ideal location for property investments.
Previously, 2007 was the record breaking year for commercial property sales in NYC. That year 5,018 properties were sold, but that was surpassed last year with 5,200 properties sold, many of which in deals that Skyline Properties and Robert Khodadadian helped broker. When totaled, the property sales in 2014 accounted for almost $56 billion.
Interesting, despite most sales taking place in Manhattan, both Brooklyn and Northern Manhattan saw the biggest gains over the previous year. In Brooklyn property sales increased by more than 60%, showing that Brooklyn really is the new spot for investors.
Although 2014 broke records when it comes to commercial property sales throughout the city, we see no signs of things slowing down in 2015. With more international investors than ever before looking for property investments in the city, there is a good chance that we could see another record breaking year. We’re excited about the opportunities that await in 2015 in beyond, and we hope you follow along with us as we continue to broker high-profile deals.