New York City, NY (PRWEB) July 18, 2012
The number of commercial transactions over $5 million closed during Q2 2012 was significantly higher – up 20% over the previous quarter and 33% over the previous year.
While the total number of transactions (812) remained almost stable in Q2 2012 compared to the previous quarter (822), the total commercial sales volume ($4.94 billion) decreased slightly by 6% over Q1 2012.
The office market is the only sector which saw an upswing in sales volume – up by 7% over Q1 2012 and reaching a total of $2.83 billion.
The sales volume for the multifamily building segment decreased slightly this quarter – down 2% over Q1 2012 and 1% year-over-year.
Manhattan comprised 80% of the total commercial sales in Q2 2012, accounting for almost $3.95 billion. Brooklyn followed distantly with $737 million in sales volume, which represents a 58% increase over Q1 2012 and a 50% increase over the same quarter of the previous year.
Sold for $294 million, the landmark office building at 14 Wall Street became the priciest commercial transaction in Q2 2012.
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