New York Tri-State Investment Sales Market: Healthy First Half of 2025

• Total New York Tri-State commercial real estate investment volume increased by 11% year-over-year in Q2 to $8.8 billion.
• Multifamily led all sectors for investment volume in Q2 2025 with ($2.6 billion) followed by office ($2.2 billion) and industrial ($1.7 billion).
• Manhattan led the region in investment volume in Q2 ($2.8 billion), down 19% year-over-year, followed by New Jersey ($2.7 billion), where investment rose by 27% year-over-year.
• Private buyers accounted for over 60% of investment volume for the four quarters ending in Q2 2025 ($23.5 billion) while institutions were the second largest buyer group with a share of 16% ($6.1 billion).
• Inbound cross-border investment volume decreased 8% year-over-year for the four quarters ending in Q2 2025 to $3.3 billion.

New York was the leading U.S. market for total investment volume for the trailing four quarters ending in Q2 2025, capturing over $37 billion, followed by Los Angeles and Dallas.