You will be redirected in 15 seconds, or continue now.

''

Close Stay up-to-date with
Observer.com Newsletters
Sign up for Observer Newsletters!
RSS Feed
The New York Observer

Brooklyn, Queens Apartment Building Sales Hit Two-Year Lows

View Story On One Page View Story On One Page Print This Story Print This Story Share This Story Share This Story
November 14, 2008 | 2:41 p.m
Number of closed apartment building deals in Queens and Brooklyn.<br /> (PropertyShark.com.)
Number of closed apartment building deals in Queens and Brooklyn.
PropertyShark.com.

Brooklyn and Queens in the third quarter of 2008 recorded their lowest number of apartment building sales in two years, according to new data from PropertyShark. Brooklyn notched 1,189 closed building deals in the three months ending Sept. 30, and Queens notched 1,107. (The PropertyShark data defined apartment buildings as those buildings with at least two residential units.)

Not surprisingly, too, the total dollar volumes of apartment building sales were the lowest they've been in two years in both boroughs: $929 million worth of deals for Brooklyn in the third quarter, and $730 million for Queens.

Brooklyn and Queens mirrored a similar downward trend in Manhattan and in the city overall.

Post a Comment The Discussion