Manhattan remained the primary driver of New York City’s investment sales market during the first half of 2026 with total dollar volume increasing 50% year-over year to $9.87 billion across 238 transactions, according to Ariel Property Advisors’ Manhattan 2026 Mid- Year Commercial Real Estate Trends report. The tally marked the borough’s strongest first half since 2022.

“Manhattan office properties led all asset classes in H1 2026, driven by a 31% surge in dollar volume to $3.53 billion,” said Michael A. Tortorici, Ariel founding partner. “Acquisitions of prime Class A properties–which are seeing tighter vacancy and promising long-term upside– represent a significant vote of confidence in the city’s economic trajectory.”

A highlight of H1 2026 was SL Green Realty Corp.’s $730-million purchase of Park Avenue Tower at 65 E. 55th St. from Blackstone’s Perform Properties, which closed in January. The 621,000-square-foot office asset maintained 96.5% occupancy at closing,

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