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NYC multifamily sales rise in Q2 2026, but deal count falls
Second-quarter NYC multifamily sales totaled $2.46 billion across 298 transactions, a 25.0% jump in dollar volume but an 11.0% decline in properties traded year over year, according to Ariel Property Advisors.
NYC multifamily sales totaled $2.46 billion across 298 transactions in Q2 2026, reflecting a 25.0% year-over-year increase in dollar volume but a 4.0% decline in transaction volume compared with Q2 2025, Ariel Property Advisors reported. The number of properties traded fell 11.0% year over year to 367. ConnectCRE also said the first half of 2026 has created two different conditions across submarkets, with Manhattan’s free-market segment showing strength while rent-stabilized assets face valuation pressure.
Ariel Property Advisors attributed Manhattan’s momentum to rising rents, which it said were up 10.0% year over year, and to high-conviction buyers making larger purchases for supply-constrained properties. In contrast, the report said rent-stabilized buildings are undergoing a “massive, painful” valuation reset tied to rising expenses and refinancings at double the original rate.
Manhattan below 96th Street saw the strongest results in Q2, with a 315.0% year-over-year increase in dollar volume and a 21.0% rise in transaction volume, according to ConnectCRE. By comparison, Brooklyn, the Bronx, and Queens all recorded double-digit declines in dollar volume.