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NYC multifamily deal activity rises as buyers seek quality buildings
New York City recorded 304 multifamily transactions in the quarter ended June 30, up 10.5% from the prior quarter and 2.4% year over year, with 20-plus unit properties driving most of the dollar volume.
Commercial Observer highlights a shift in New York City’s multifamily market, pointing to a growing shortage of quality apartment buildings for purchase even as the city continues to grapple with housing supply constraints. The outlet cites Alpha Realty’s second-quarter 2026 multifamily market report, saying NYC recorded 304 multifamily transactions during the three months ended June 30. That total represented increases of 10.5% from the first quarter and 2.4% year over year, following 275 transactions in the first quarter, which was up nearly 20% from the prior year. Commercial Observer also notes that activity is concentrated in free-market, newer construction and in larger buildings. Multifamily deals for properties with 20-plus units totaled 112 transactions in the second quarter, up 24.4% from the prior quarter and 8.7% from a year earlier, accounting for $872.2 million, or about 57% of NYC’s multifamily dollar volume. In Manhattan, the outlet reports 91 multifamily properties traded for $824.6 million in the second quarter. It said deal count rose 62.5% year over year and dollar volume increased 96.1%, with transactions involving 20-plus unit buildings nearly doubling from 22 to 43 and dollar volume in that segment jumping 91.1% to a cited partial figure in the report.