New York City investment sales reached $23.69 billion across 1,914 transactions in the first three quarters of 2026, up 9.1% and 7.9%, respectively, from a year earlier, Ariel Property Advisors reported. The year’s first half was especially strong, with dollar volume up 36% in Q1 and 31% in Q2, year-over-year.

However, dollar volume in Q3 2026 declined 25.2% from Q3 2025 to $6.73 billion. The drop was due mainly to a few very large trades last year, led by the $1.08-billion sale of 590 Madison Ave.

“While rate volatility created late-summer headwinds, the fundamentals of New York City commercial real estate remain strikingly resilient,” said Shimon Shkury, Ariel president and founder. “Surpassing $23 billion in sales through the first three quarters demonstrates that capital is actively deploying into the market—particularly across core drivers like development and multifamily. The steady middle-market volume proves that under the headline numbers, long-term investor confidence in New York City’s fundamental trajectory remains intact.”

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