March 3, 2017
Investors bought and sold less real estate in the second half of 2016. The volume of deals completed in Manhattan fell to $17 billion, down 28% from $23.8 billion from the year before, according to the New York City Investment Sales Report from the Real Estate Board of New York.
However, Midtown is still the place where the biggest deals happen — including all of the five largest real estate transactions in the second half of 2016. That includes the $1.2 billion sale of a minority stake in 1095 Avenue of the Americas, and the $707 million sale of a portion of the office building 501 W. 30th St., also known as 10 Hudson Yards.
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