New York commercial real estate deals shrank in the first half of 2017. Sales of commercial real estate in New York City totalled $ 18bn in the first six months of the year , down from $ 200 in the same period last year , according to a report from the Real Estate Board of New York . The total amount of sales fell in every market category and the number of deals declined 6 % over the same the period . The declining volume of sales and number of transactions suggest investor uncertainty and concerns over rising interest rates , said Michael Slattery , a senior vice - president at the industry group .
Sales of commercial real estate in New York City totalled $ 18bn in the first six months of the year , down from $ 200 in the same period last year , according to a report from the Real Estate Board of New York . The total amount of sales fell in every market category and the number of deals declined 6 % over the same the period . The declining volume of sales and number of transactions suggest investor uncertainty and concerns over rising interest rates , said Michael Slattery , a senior vice - president at the industry group .