New York's population has shown a notable increase, reaching approximately 19.94 million in Q4 2026, reflecting a year-over-year growth rate of 2.27%. This marks a recovery from a decline observed in previous years, with net migration contributing positively at 76,419 individuals. The median household income stands at about $99,852, while the unemployment rate is recorded at 5.7%. The employment figure is robust at over 10 million, and the renter share is significant at 48.8%, indicating a strong demand for housing in the area.
In the multifamily sector, the HUD Fair Market Rent for a two-bedroom unit is approximately $2,586, which remains below the asking rent of $2,586 for the same unit type. Year-over-year rent growth is reported at 3.7%, aligning closely with the national median growth of 3.5%. The median gross rent is consistent at $1,851, suggesting a stable rental market. While affordability remains a concern, the momentum in rent growth indicates a resilient demand for multifamily housing.
Capital markets for multifamily properties are currently characterized by a cap rate of 6%, which is about 104 basis points tighter than the national median of 7.04%. Over the trailing 24 months, there have been 8,530 transactions, with a total dollar volume of approximately $12.14 billion and a median price per unit of $442,550, representing a 121% increase compared to the national median. These figures suggest a competitive investment landscape, although the market's dynamics warrant careful underwriting considerations. According to CBRE Research, the multifamily sector continues to attract investor interest, driven by ongoing demand and demographic trends.
Figures assembled automatically from public property records, third-party listing feeds, licensed market data, and federal sources (HUD, Census, BLS).
One man’s trash is another man’s lease expansion. Citibin, a maker of trash, recycling and compost enclosures, has tripled its warehouse and office footprint at Brooklyn’s Industry City, Commercial Observer has learned. Citibin upped its lease from 4,600 to 15,000 square feet in a five-year deal at the Sunset Park…
On a sunny Monday morning in mid-July, New York Mayor Zohran Mamdani and several administration officials trekked to Coney Island to announce a new initiative that would deploy small teams of engineers to fix nettlesome problems within city government. The city’s Office of Technology and Innovation (OTI) would manage five…
Last week was a good one for Ken Griffin. The billionaire money manager who — along with Vornado Realty Trust and Rudin — is in the midst of one of New York City’s most ambitious developments at 350 Park Avenue, scored a cool $3.3 billion in construction financing for the…
CBRE has been named the listing agent for 228 Manhattan Beach Blvd., a nearly 30,000-square-foot office property in Manhattan Beach. The three-story Class A building is being offered through a competitive bidding process and will be delivered vacant. Vice chairmen Stephen Somer and Anthony DeLorenzo and SVPs Bob Healey, John…
Newmark arranged an approximately 41,000-square-foot lease for Pursuit Transformation Company Inc. at The JACX, a new 700,000-square-foot Class A office development at 28-07 Jackson Ave. in Long Island City. Newmark president, New York Tri-State Region David Falk and executive managing director Daniel Levine represented Pursuit in the lease negotiations. Building…
NEW YORK CITY — Mercor, which organizes human intelligence to power the AI economy, has signed a 25,550-square-foot office lease at One World Trade Center in Lower Manhattan. The space is located on the 77th floor. Harry Singer of CBRE represented Mercor in the lease negotiations. David Falk, Peter Shimkin,…
Despite economic uncertainties, New York's leasing market shows strong activity, particularly in Manhattan and Jersey City.
New York City's commercial real estate market is witnessing increased leasing activity and significant retail transactions, signaling a post-pandemic recovery.
Demand for premium office spaces in Manhattan is on the rise, signaling a post-pandemic rebound in commercial real estate.
| Sold | Address | Type | Units | Price | $/Unit |
|---|---|---|---|---|---|
| 2025-09-30 | 1763 Townsend Ave, Bronx, NY 10453 | Multifamily | 9 | $1.3M | $138,889 |
| 2025-08-19 | 1665-1669 Morris Ave, Bronx, NY 10457 | Multifamily | 45 | $3.2M | $71,111 |
| 2025-08-18 | 349 Broadway, New York City, NY 10013 | Multifamily | 28 | $460K | $16,429 |
| 2025-08-11 | 1806 Vyse Ave, Bronx, NY 10460 | Multifamily | 55 | $1.3M | $24,091 |
| 2025-08-01 | 45 Crosby St, Manhattan, NY 10012 | Multifamily | 13 | $3.0M | $230,692 |
| 2025-07-17 | 52 Wooster St, New York, NY 10013 | Multifamily | — | $6.3M | — |
| 2025-07-14 | 945 Bruckner Blvd, Bronx, NY 10459 | Multifamily | 21 | $1.4M | $66,667 |
| 2025-07-11 | 139 Wooster St, Manhattan, NY 10012 | Multifamily | 1 | $2.5M | $2,550,000 |
| 2025-06-05 | 2438 Hoffman St, Bronx, NY 10458 | Multifamily | 8 | $875K | $109,375 |
| 2025-05-28 | 111 Mercer St, Manhattan, NY 10012 | Multifamily | — | $6.5M | — |
| 2025-05-23 | 300 Mamaroneck Ave, White Plains, NY 10605 | Multifamily | — | $429K | — |
| 2025-05-23 | 1837 Stuart St, Brooklyn, NY 11229 | Multifamily | 2 | $975K | $487,500 |
| 2025-05-23 | 20 Sycamore Rd, Manahawkin, NJ 08050 | Multifamily | — | $155K | — |
| 2025-05-23 | 6015 Fieldston Rd, The Bronx, NY 10471 | Multifamily | 3 | $1.3M | $429,167 |
| 2025-05-23 | 2362 E 2nd St, Brooklyn, NY 11223 | Multifamily | 2 | $1.3M | $655,000 |
| 2025-05-22 | 954 Post Ave, Staten Island, NY 10302 | Multifamily | 2 | $688K | $344,000 |
| 2025-05-22 | 150 Henley Pl, Weehawken, NJ 07086 | Multifamily | — | $2.5M | — |
| 2025-05-22 | 605 Grove St, Clifton, NJ 07013 | Multifamily | — | $317K | — |
| 2025-05-22 | 404-406 Totowa Ave, Paterson, NJ 07502 | Multifamily | — | $560K | — |
| 2025-05-22 | 10 City Pl Unit 22G, White Plains, NY 10601 | Multifamily | — | $905K | — |
| 2025-05-22 | 12 Garden Ct, Far Rockaway, NY 11691 | Multifamily | 2 | $1.1M | $525,000 |
| 2025-05-22 | 987 Post Ave, Staten Island, NY 10302 | Multifamily | 2 | $683K | $341,700 |
| 2025-05-22 | 142 22nd St, Irvington, NJ 07111 | Multifamily | 2 | $635K | $317,500 |
| 2025-05-22 | 1260 Clay Ave, Bronx, NY 10456 | Multifamily | 66 | $5.4M | $81,259 |
| 2025-05-22 | 472 Buckelew Ave, Monroe, NJ 08831 | Multifamily | — | $595K | — |
| 2025-05-22 | 163 Liberty St, Paterson, NJ 07522 | Multifamily | — | $509K | — |
| 2025-05-22 | 47 Tichenor Ter, Irvington, NJ 07111 | Multifamily | 2 | $550K | $275,000 |
| 2025-05-21 | 96 East Ave, Atlantic Highlands, NJ 07716 | Multifamily | — | $255K | — |
| 2025-05-21 | 221 Pine St, Elizabeth City, NJ 07206 | Multifamily | 2 | $550K | $275,000 |
| 2025-05-21 | 148-24 87th Rd, Jamaica, NY 11435 | Multifamily | — | $1.1M | — |
| 2025-05-21 | 217 Eldert St, Brooklyn, NY 11207 | Multifamily | 2 | $800K | $400,000 |
| 2025-05-21 | 701 Van Siclen Ave, Brooklyn, NY 11207 | Multifamily | 2 | $1.1M | $560,000 |
| 2025-05-21 | 9706 159th Ave, Howard Beach, NY 11414 | Multifamily | 2 | $1.1M | $525,000 |
| 2025-05-21 | 59-37 69th Ave, Ridgewood, NY 11385 | Multifamily | — | $1.6M | — |
| 2025-05-21 | 140 Albion Ave, Paterson, NJ 07502 | Multifamily | — | $660K | — |
| 2025-05-21 | 107-37 108th St, Richmond Hill South, NY 11419 | Multifamily | — | $318K | — |
| 2025-05-21 | 408 Beach 45th St, Far Rockaway, NY 11691 | Multifamily | 2 | $629K | $314,500 |
| 2025-05-21 | 56 Brower Ave, Rockville Centre, NY 11570 | Multifamily | 2 | $850K | $425,000 |
| 2025-05-21 | 844 44th St, Brooklyn, NY 11220 | Multifamily | 4 | $2.3M | $566,250 |
| 2025-05-21 | 102 Greenville Ave, Jersey City, NJ 07305 | Multifamily | 2 | $672K | $335,750 |
| 2025-05-20 | 101-53 108 St, Richmond Hill South, NY 11419 | Multifamily | — | $880K | — |
| 2025-05-20 | 1200 GRAND St #422, Hoboken, NJ 07030 | Multifamily | — | $1.2M | — |
| 2025-05-20 | 477 Avenue Y, Brooklyn, NY 11223 | Multifamily | 2 | $800K | $400,000 |
| 2025-05-20 | 62 Albion Ave, Paterson, NJ 07502 | Multifamily | — | $500K | — |
| 2025-05-20 | 41 Yucca Dr, Staten Island, NY 10312 | Multifamily | 2 | $850K | $425,000 |
| 2025-05-20 | 9506 Seaview Ct, Brooklyn, NY 11236 | Multifamily | 3 | $660K | $220,000 |
| 2025-05-20 | 2889 Wellman Ave, Bronx, NY 10461 | Multifamily | 2 | $905K | $452,500 |
| 2025-05-20 | 218 Cleveland St, City of Orange Township, NJ 07050 | Multifamily | — | $545K | — |
| 2025-05-20 | 120 Narragansett Villas Dr, Lindenhurst, NY 11757 | Multifamily | 1 | $580K | $580,000 |
| 2025-05-20 | 2140 E 34th St, Brooklyn, NY 11234 | Multifamily | 2 | $1.3M | $625,000 |
Recorded multifamily sales from public property records and third-party listing feeds over the trailing 24 months — a partial sample, not an exhaustive market index. Sources & methodology →
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