The value of transactions in New York City decreased 39% in the first 6 months of the year from the same period a year earlier, declining significantly in every borough except Staten Island, a new report said. Sales of commercial real estate in New York totalled $ 18bn in the first six months of the year , down from $ 18bn in the first six months of the year , according to a report from the Real Estate Board of New York . The total amount of sales fell in every property category and the number of deals declined 39% 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 totalled $ 18bn in the first six months of the year , down from $ 18bn in the first six months of the year , according to a report from the Real Estate Board of New York . The total amount of sales fell in every property category and the number of deals declined 39% 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.