New York March Market Update

Written By Eli Cavaleri

Happy April! The New York City new development market has been crushing it in the past few weeks, with March being the best month for total dollar volume since June of 2023.

Let’s look back at the highlights of NYC’s strong new dev activity in March.

  • Citywide, deal volume rose by 7%, continuing an upward trajectory for the fourth month

  • Total dollar volume rose 18% to $796M, the best month since June of 2023

  • The luxury market saw a 26% increase in deal volume from last month and a 7% increase in dollar volume

  • While the March numbers are upbeat, they fall short of the March average during the pandemic recovery (2021-2023) and align more closely with pre-pandemic (2015-2019) numbers

If you have any questions about the NYC market, contact me here.

Statistics courtesy of MarketProof.

Eli Cavaleri
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