NYC investment sales rise 9.1% to $23.69 billion in nine months

New York City investment sales reached $23.69 billion across 1,914 transactions in the first three quarters of 2026, up 9.1% in dollars and 7.9% in transactions from a year earlier, Ariel Property Advisors reported. Connect CRE reported the figures Oct. 26.

Third-quarter dollar volume fell 25.2% from a year earlier to $6.73 billion. Ariel attributed the drop mainly to a few large 2025 trades, led by the $1.08 billion sale of 590 Madison Ave. First-half dollar volume rose 36% in the first quarter and 31% in the second, year over year, leaving the third quarter about 21% below the first-half quarterly average.

For allocators, the report raises a pacing question: whether to size New York exposure on the 9.1% nine-month gain or the 25.2% third-quarter decline. Ariel attributes the quarterly drop to large prior-year trades rather than a broad withdrawal, suggesting a Q3-only read understates mid-market activity.

As Private Wealth Daily previously reported, Ariel counted New York City multifamily dollar volume down 23.3% in the third quarter as large deals halved, while nine-month multifamily sales rose 7.9% to $6.99 billion across 1,044 transactions.