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New York City multifamily & commercial real estate market

Recorded sales, prices, construction, lending and ownership for income and commercial property across the five boroughs, updated monthly from NYC public records. Data through July 2026.

Get new sales, permits and off-market deals here in your weekly Pulse brief.
$41.7B11,852 sales, last 12 months▲ 26.6% YoY
$485Median price / sq ft▲ 4.1% YoY
$463KMedian price / unit (multifamily)▲ 2.8% YoY
1,679Off-market listings on Crezly now
11Buyers with an active buy box here
September 2026 summary

11,852 income-property sales were recorded in New York City over the 12 months ending July 2026, unchanged from the prior 12 months, while dollar volume reached $41.7B, up 26.6%. The median price per square foot was $485, up 4.1%, and the median price per residential unit for multifamily and mixed-use properties was $463K, up 2.8%. DOB construction permits totaled 73,323, down 2.2%. 2.9% of multifamily and mixed-use parcels carried a Motivated-Seller Score of 10 or higher. JPMorgan Chase Bank, N.A. was the most active lender, with 1,673 mortgages recorded during the period.

Market trends

Recorded sales volume by month

August 2024 – July 2026. Hover or tap a month for its figure.

$0$2B$4B$6B$8BAugust 2024: $2.7B in recorded salesSeptember 2024: $2.5B in recorded salesOctober 2024: $2.5B in recorded salesNovember 2024: $2.8B in recorded salesDecember 2024: $3.6B in recorded salesJanuary 2025: $3.3B in recorded salesFebruary 2025: $2.2B in recorded salesMarch 2025: $2.7B in recorded salesApril 2025: $2.2B in recorded salesMay 2025: $2.7B in recorded salesJune 2025: $2.4B in recorded salesJuly 2025: $3.2B in recorded salesAugust 2025: $4.4B in recorded salesSeptember 2025: $2.2B in recorded salesOctober 2025: $3.9B in recorded salesNovember 2025: $2.5B in recorded salesDecember 2025: $4.3B in recorded salesJanuary 2026: $3.6B in recorded salesFebruary 2026: $2.8B in recorded salesMarch 2026: $4.2B in recorded salesApril 2026: $2.9B in recorded salesMay 2026: $4B in recorded salesJune 2026: $4.1B in recorded salesJuly 2026: $2.7B in recorded sales$2.7BOct ’24Jan ’25Apr ’25Jul ’25Oct ’25Jan ’26Apr ’26Jul ’26
$0$2B$4B$6B$8BAugust 2024: $2.7B in recorded salesSeptember 2024: $2.5B in recorded salesOctober 2024: $2.5B in recorded salesNovember 2024: $2.8B in recorded salesDecember 2024: $3.6B in recorded salesJanuary 2025: $3.3B in recorded salesFebruary 2025: $2.2B in recorded salesMarch 2025: $2.7B in recorded salesApril 2025: $2.2B in recorded salesMay 2025: $2.7B in recorded salesJune 2025: $2.4B in recorded salesJuly 2025: $3.2B in recorded salesAugust 2025: $4.4B in recorded salesSeptember 2025: $2.2B in recorded salesOctober 2025: $3.9B in recorded salesNovember 2025: $2.5B in recorded salesDecember 2025: $4.3B in recorded salesJanuary 2026: $3.6B in recorded salesFebruary 2026: $2.8B in recorded salesMarch 2026: $4.2B in recorded salesApril 2026: $2.9B in recorded salesMay 2026: $4B in recorded salesJune 2026: $4.1B in recorded salesJuly 2026: $2.7B in recorded sales$2.7BJan ’25Jul ’25Jan ’26Jul ’26
Show the data
MonthSalesVolume
August 2024879$2.7B
September 2024932$2.5B
October 2024999$2.5B
November 2024951$2.8B
December 20241,121$3.6B
January 20251,006$3.3B
February 2025916$2.2B
March 20251,016$2.7B
April 2025978$2.2B
May 2025984$2.7B
June 2025967$2.4B
July 20251,105$3.2B
August 2025976$4.4B
September 2025964$2.2B
October 2025978$3.9B
November 2025953$2.5B
December 20251,102$4.3B
January 2026958$3.6B
February 2026931$2.8B
March 20261,037$4.2B
April 20261,046$2.9B
May 2026928$4B
June 20261,060$4.1B
July 2026919$2.7B

Median price per square foot

Rolling 3-month median of recorded sales with a building area. Gaps mean fewer than five priced sales.

$400$600$800August 2024: $459 per sq ft (3-month median)September 2024: $463 per sq ft (3-month median)October 2024: $458 per sq ft (3-month median)November 2024: $455 per sq ft (3-month median)December 2024: $455 per sq ft (3-month median)January 2025: $464 per sq ft (3-month median)February 2025: $470 per sq ft (3-month median)March 2025: $470 per sq ft (3-month median)April 2025: $463 per sq ft (3-month median)May 2025: $465 per sq ft (3-month median)June 2025: $469 per sq ft (3-month median)July 2025: $482 per sq ft (3-month median)August 2025: $485 per sq ft (3-month median)September 2025: $491 per sq ft (3-month median)October 2025: $488 per sq ft (3-month median)November 2025: $488 per sq ft (3-month median)December 2025: $483 per sq ft (3-month median)January 2026: $485 per sq ft (3-month median)February 2026: $486 per sq ft (3-month median)March 2026: $481 per sq ft (3-month median)April 2026: $473 per sq ft (3-month median)May 2026: $477 per sq ft (3-month median)June 2026: $483 per sq ft (3-month median)July 2026: $491 per sq ft (3-month median)$491Oct ’24Jan ’25Apr ’25Jul ’25Oct ’25Jan ’26Apr ’26Jul ’26
$400$600$800August 2024: $459 per sq ft (3-month median)September 2024: $463 per sq ft (3-month median)October 2024: $458 per sq ft (3-month median)November 2024: $455 per sq ft (3-month median)December 2024: $455 per sq ft (3-month median)January 2025: $464 per sq ft (3-month median)February 2025: $470 per sq ft (3-month median)March 2025: $470 per sq ft (3-month median)April 2025: $463 per sq ft (3-month median)May 2025: $465 per sq ft (3-month median)June 2025: $469 per sq ft (3-month median)July 2025: $482 per sq ft (3-month median)August 2025: $485 per sq ft (3-month median)September 2025: $491 per sq ft (3-month median)October 2025: $488 per sq ft (3-month median)November 2025: $488 per sq ft (3-month median)December 2025: $483 per sq ft (3-month median)January 2026: $485 per sq ft (3-month median)February 2026: $486 per sq ft (3-month median)March 2026: $481 per sq ft (3-month median)April 2026: $473 per sq ft (3-month median)May 2026: $477 per sq ft (3-month median)June 2026: $483 per sq ft (3-month median)July 2026: $491 per sq ft (3-month median)$491Jan ’25Jul ’25Jan ’26Jul ’26
Show the data
MonthMedian $/sf (3-mo)
August 2024$459
September 2024$463
October 2024$458
November 2024$455
December 2024$455
January 2025$464
February 2025$470
March 2025$470
April 2025$463
May 2025$465
June 2025$469
July 2025$482
August 2025$485
September 2025$491
October 2025$488
November 2025$488
December 2025$483
January 2026$485
February 2026$486
March 2026$481
April 2026$473
May 2026$477
June 2026$483
July 2026$491

Construction permits issued

Initial DOB NOW permits for construction work (sheds, fences, scaffolds and signs excluded) — a leading indicator of repositioning and new supply.

02,0004,0006,0008,000August 2024: 6,819 construction permitsSeptember 2024: 6,314 construction permitsOctober 2024: 6,845 construction permitsNovember 2024: 5,807 construction permitsDecember 2024: 5,645 construction permitsJanuary 2025: 6,061 construction permitsFebruary 2025: 5,491 construction permitsMarch 2025: 6,321 construction permitsApril 2025: 6,357 construction permitsMay 2025: 6,197 construction permitsJune 2025: 6,366 construction permitsJuly 2025: 6,767 construction permitsAugust 2025: 6,127 construction permitsSeptember 2025: 6,212 construction permitsOctober 2025: 6,845 construction permitsNovember 2025: 5,448 construction permitsDecember 2025: 6,052 construction permitsJanuary 2026: 5,434 construction permitsFebruary 2026: 4,860 construction permitsMarch 2026: 6,203 construction permitsApril 2026: 6,350 construction permitsMay 2026: 6,072 construction permitsJune 2026: 7,081 construction permitsJuly 2026: 6,639 construction permits6,639Oct ’24Jan ’25Apr ’25Jul ’25Oct ’25Jan ’26Apr ’26Jul ’26
02,0004,0006,0008,000August 2024: 6,819 construction permitsSeptember 2024: 6,314 construction permitsOctober 2024: 6,845 construction permitsNovember 2024: 5,807 construction permitsDecember 2024: 5,645 construction permitsJanuary 2025: 6,061 construction permitsFebruary 2025: 5,491 construction permitsMarch 2025: 6,321 construction permitsApril 2025: 6,357 construction permitsMay 2025: 6,197 construction permitsJune 2025: 6,366 construction permitsJuly 2025: 6,767 construction permitsAugust 2025: 6,127 construction permitsSeptember 2025: 6,212 construction permitsOctober 2025: 6,845 construction permitsNovember 2025: 5,448 construction permitsDecember 2025: 6,052 construction permitsJanuary 2026: 5,434 construction permitsFebruary 2026: 4,860 construction permitsMarch 2026: 6,203 construction permitsApril 2026: 6,350 construction permitsMay 2026: 6,072 construction permitsJune 2026: 7,081 construction permitsJuly 2026: 6,639 construction permits6,639Jan ’25Jul ’25Jan ’26Jul ’26
Show the data
MonthPermits
August 20246,819
September 20246,314
October 20246,845
November 20245,807
December 20245,645
January 20256,061
February 20255,491
March 20256,321
April 20256,357
May 20256,197
June 20256,366
July 20256,767
August 20256,127
September 20256,212
October 20256,845
November 20255,448
December 20256,052
January 20265,434
February 20264,860
March 20266,203
April 20266,350
May 20266,072
June 20267,081
July 20266,639

What trades here

Share of recorded sales by asset class, last 12 months.

Multifamily: 9,400 sales (79%)Multifamily79% · 9,400Mixed Use: 850 sales (7%)Mixed Use7% · 850Retail: 454 sales (4%)Retail4% · 454Other: 390 sales (3%)Other3% · 390Development: 262 sales (2%)Development2% · 262Industrial: 233 sales (2%)Industrial2% · 233Office: 230 sales (2%)Office2% · 230Hospitality: 33 sales (0%)Hospitality0% · 33
Multifamily: 9,400 sales (79%)Multifamily79% · 9,400Mixed Use: 850 sales (7%)Mixed Use7% · 850Retail: 454 sales (4%)Retail4% · 454Other: 390 sales (3%)Other3% · 390Development: 262 sales (2%)Development2% · 262Industrial: 233 sales (2%)Industrial2% · 233Office: 230 sales (2%)Office2% · 230Hospitality: 33 sales (0%)Hospitality0% · 33
Show the data
Asset classSales
Multifamily9,400
Mixed Use850
Retail454
Other390
Development262
Industrial233
Office230
Hospitality33

Seller distress

2.9% of 437,556 multifamily and mixed-use parcels in New York City carry a Motivated-Seller Score of 10+ as of September 2026, down from 3% in August 2026.

The score weighs estimated loan maturity, tax liens, open HPD violations, evictions, ownership tenure and transfer activity. It is a signal, not a prediction.

See the parcels behind this number →

Biggest sales last quarter

PropertyTypeRecordedPrice
455 Madison AvenueHospitalityMay 2026$491.1M
250 West 57 StreetOfficeJun 2026$275M
885 2 AvenueOfficeJun 2026$265.3M
407 Park AvenueDevelopment SiteMay 2026$251.7M
96-05 Queens BoulevardRetailMay 2026$229.6M

Most active lenders

Institutional mortgages recorded in the last 12 months.

  1. JPMorgan Chase Bank, N.A.1,673 loans · $3.5B
  2. Citizens Bank NA1,284 loans · $908.2M
  3. Rocket Mortgage, LLC993 loans · $335.5M
  4. United Wholesale Mortgage, LLC762 loans · $504.8M
  5. TD Bank NA693 loans · $556.4M
Lender directory →

Largest owners

Income-property parcels held, public record (companies only).

  1. Townhouse Rental, L.L.C.242 parcels · 1,035 units
  2. Trustees Of Columbia University153 parcels · 4,903 units
  3. New York University102 parcels · 5,231 units
  4. Pmbl LLC101 parcels
  5. Siy Soccer League, INC.94 parcels
Largest NYC landlords → · Owner directory

Off-market deals in NYC

$6.2M12 Unit Mixed Use Bushwick12 units · 7% cap
$1.5M4 Family Remsen Village4 units
$11M3 Unit Development Site Brooklyn3 units
$2.6M5 Unit Mixed Use Bushwick5 units

All 1,679 listings in NYC →

Frequently asked questions

What is the price per square foot for commercial and multifamily property in New York City?

The median recorded sale was $485 per square foot across 11,459 priced income-property sales in the 12 months to July 2026, up 4.1% on the prior year.

How much do multifamily buildings sell for per unit in New York City?

Multifamily and mixed-use buildings sold for a median of $463K per residential unit in the 12 months to July 2026, across 10,242 recorded sales.

How many commercial real estate sales were there in New York City last year?

11,852 income-property sales worth $41.7B were recorded in the 12 months to July 2026 (deeds of $100,000 or more, excluding single-family homes and condo units).

Who lends on commercial property in New York City?

The most active institutional lender over the last 12 months was JPMorgan Chase Bank, N.A., with 1,673 recorded mortgages. The Crezly lender directory ranks every lender by recorded loans.

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New sales, permits, off-market listings and distress signals, in one weekly brief.
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Boroughs

Property records in NYC

Motivated sellers · Lender directory · Property map

Compiled by Crezly from NYC public records: ACRIS deeds and mortgages (recorded through July 2026), DOB NOW permits, PLUTO and HPD. Sales are recorded deeds of $100,000+ on income and commercial property (multifamily incl. two-family, mixed-use, retail, office, industrial, development, hospitality); single-family homes and condo units are excluded. Staten Island deeds are recorded by the Richmond County Clerk and are not in ACRIS. Neighborhoods follow NYC Community District boundaries. Not legal, financial or investment advice.