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Spending Publications / Real Estate Weekly / May 11, 2011 issue

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Real Estate Weekly Multifamily sales jump 28%

May 11, 2011 | Comments

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Multifamily sales transactions jumped 28% in New York City in the first quarter of 2011 compared to the same period last year, according to Ariel Property Advisors' Multi family Quarter in Review: New York City.

Year-over-year dollar volume declined sharply in the first quarter of 2011, however, because Most Recent Spending Publications last year's first quarter figures captured the distressed sales of Riverton Houses for $125 million and a portfolio of Harry Macklowe's buildings for around $400 million. Real Estate Weekly Citywide during the first quarter, 126 buildings were traded in 109 transactions for a total dollar CPA Journal, The value of $523 million. Kentucky Banker Magazine "Multifamily sales numbers were strong for the first quarter but particularly robust. in March Petroleum Accounting and Financial after a lackluster January and February," said Shimon Shkury, president of Ariel Property Management Journal Advisors. Global Perspectives on Accounting "The increase in volume we saw in March has continued through April, which appears to be an Education encouraging trend for the year."

The report features a timeline that provides a quarter to quarter comparison of dollar and Most Popular Spending Articles transaction volume, a macro-economic overview, and the following highlights: Accounting for software development * In Brooklyn, 39 buildings with 1,096 units traded in 32 transactions for a total dollar value of costs $107 million. The neighborhoods of Flatbush, Crown Heights, Lefferts Gardens, and Coney Island accounted for 65%of the borough's transaction volume. Converting a corporation to an LLC A Comparison of U.S. Auditing * In Northern Manhattan, 35 buildings with 835 units traded in 26 transactions for a total dollar Standards with International value of $104.7 million. Walk-ups made up 73% of the volume and Central Harlem dominated the Standards on Auditing sales activity. Ten stupid things that small property * In Manhattan below 96th Street, 17 buildings with 457 units traded in 17 transactions for a owners do total dollar value of $131.7 million. These transactions include the $48 million sale of the 95unit Ethics, Professional Judgment, and Park Columbus located at 101 W. 87th St., which was lost to foreclosure last year. Principles-based Decision Making Under IFRS * In the Bronx, 18 buildings with 825 units traded in 17 transactions for a total dollar value of $56.9 million. The Morris Heights section of the Bronx had five transactions, more than any other neighborhood. Most Popular Spending Publications

* In Queens, 17 buildings with 786 units traded in 17 transactions for a total dollar value of Real Estate Weekly $122.8 million. The first quarter included the sale of The Astoria, a 14-story apartment tower located at 26-36 27th Avenue in Long Island City, which was sold by Criterion Development CPA Journal, The Group LLC to TIAA-CREF for $42.5 million. Kentucky Banker Magazine COPYRIGHT 2011 Hagedorn Publication Petroleum Accounting and Financial COPYRIGHT 2011 Gale, Cengage Learning Management Journal

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