NYC investment sales are making a turnaround

Welcome to traded’s weekly newsletter where we give you the top New York CRE news and deals to start your morning ahead of the curve, in 5 minutes or less ☀️☕💰

What We’re Serving Up Today

• A Q2 surge in NYC investment sales

• The nation’s largest office-to-residential conversion begins in FiDi

• McKinsey on the future of CRE

• Last week’s big closings

The DIRT 📈

Daily Interest Rate Tracker

What You Need to Know 🗞️

1. 📈 Q2 Investment Sales Surge: NYC CRE sales tick upward in Q2 with $2.8B in deals, signaling a possible turnaround in the market after a subpar Q1.

2. 🏗️ Nation’s Largest Residential Conversation Underway: The transformation of a former office building into a 1,300-unit residential development in Manhattan's FiDi has begun, making it the largest residential conversion in the US.

3. 🔥 This Bronx Neighborhood Gaining Traction: Mott Haven is having a moment, with new luxury buildings and competitive prices, drawing in record demand from renters as developers seize the opportunity to create the next waterfront skyline.

4. 🏬 Retail Recovery in Manhattan : Manhattan's retail market shows signs of a soft landing as asking rents in prime corridors rise for the 4th consecutive quarter, indicating a solid recovery.

5. 🌎️ McKinsey’s New Report on Hybrid Work: It reveals that the permanence of hybrid work and the growing popularity of suburbs could lead to as much as a 40% drop in demand for urban retail and office space.

6. ⬆️ BREIT is Bouncing Back: Blackstone's real estate investment trust is making a strong comeback with its highest returns in almost a year.

Closing Time 💰️

This Past Week in NYC: 58 deals closed over $2M… 22 deals over $4M… 12 deals over $6M… 3 deals over $10M… OVER $330M in closed transactions… Get to work 💥 

Trending from last week

One More Thing…

OVER AND OUT!

Want more content? We don’t blame you. You can find Traded content on Instagram, LinkedIn, and at traded.co 

HAPPY TRADING! …we’ll be back next Tuesday 😈