116. NYC Multifamily Q3 2025 Market Update – Free Market, Rent-Stabilized & Affordable Housing featuring Victor Sozio & Ben Schlegel
Update: 2025-10-28
Description
Shimon Shkury, President and Founder of Ariel Property Advisors, Victor Sozio, Founding Partner, and Ben Schlegel, Director in the Capital Services Group, discuss New York City’s multifamily market and the findings of Ariel Property Advisors’ Q3 2025 Multifamily Quarter in Review New York City.
Highlights include:
- New York City’s multifamily market gained momentum in the third quarter, rising to $2.55 billion in sales, up 14% quarter-over-quarter and 17% year-over-year.
- Free-market assets are attracting significant investor interest due to strong fundamentals like growing rents and less regulation compared to rent-stabilized buildings.
- Nearly half of the dollar volume in the third quarter was in Manhattan where sales were dominated by well-capitalized investors targeting high-value free-market multifamily assets.
- There has been a significant increase in liquidity in the market over the last 6 to 12 months, with more banks, private lenders and debt funds entering the New York market.
- Lenders are keenly interested in Manhattan, especially for office-to-residential conversions, due to low vacancy rates and strong demand dynamics.
- The team is expecting a strong close to the year with a flurry of transactions, primarily driven by free-market multifamily properties, supported by softening interest rates
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