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Manhattan commercial investment sales totaled $19.9B in 2025
In the first half of 2026, volume reached $10.2B, putting the market on pace for about $20.3B for the full year, according to BKREA data cited by Commercial Observer.
Commercial Observer reports that Manhattan’s commercial investment sales dollar volume can sometimes be misleading as a proxy for activity, but its latest BKREA research points to continued momentum.
According to the outlet’s cited BKREA Manhattan dollar volume history, investment sales totaled $19.914 billion in 2025. Through the first half of 2026, volume reached $10.173 billion, with $4.197 billion in the first quarter and $5.976 billion in the second.
Commercial Observer also says nearly every product sector within Manhattan is moving positively, highlighting that office remains strong. The outlet adds that it believes the market may be moving beyond the peak of the office-to-residential conversion wave.