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NYC Investment Sales Surge 26% to $28 Billion in 2024

2/27/2025

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Summary

Story summary

In 2024, New York City’s investment sales soared past $28 billion, marking a remarkable 26% rise from the previous year. The office market thrived at $5.4 billion, led by demand for Class A buildings. Development sales skyrocketed 53% to $5.5 billion, thanks to innovative office-to-residential conversions, while multifamily sales climbed 14% to $8.9 billion, drawing a wide range of investors.

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Story summary

In 2024, New York City’s investment sales soared past $28 billion, marking a remarkable 26% rise from the previous year. The office market thrived at $5.4 billion, led by demand for Class A buildings. Development sales skyrocketed 53% to $5.5 billion, thanks to innovative office-to-residential conversions, while multifamily sales climbed 14% to $8.9 billion, drawing a wide range of investors.