Commercial Market Intelligence

NYC Commercial Real Estate Market Report 2026

Sales activity across every major New York City asset class through Q3 2026.

$23.69BYTD Sales, Q1-Q3+9.1% YoY
1,914YTD Transactions+7.9% YoY
$6.73BQ3 2026 Sales-25.2% YoY
+4.0%Q3 Excluding $250M+ TradesYear over year
Market Overview

Steady Deal Flow, Fewer Mega Trades

New York City investment sales reached $23.69 billion through the first three quarters of 2026. The Q3 decline mostly reflects several very large trades a year earlier, and transaction count edged up 0.7% in the quarter.

  • Multifamily led all asset classes at $6.99B, followed by development sites at $5.24B.
  • Office totaled $5.20B, down 2.8%, while deal count rose 5.6%.
  • Hotels posted a strong gain, with $1.08B across 15 trades.
Manhattan commercial street corner at golden hour
KEY INSIGHT

Excluding trades of $250 million or more, Q3 sales volume rose 4.0% year over year.

Q1-Q3 2026

Sales By Asset Class

Asset ClassDollar VolumeYoYDealsYoY
Multifamily$6.99B+7.9%1,044+11.5%
Development and Conversions$5.24B+9.7%326-0.3%
Office$5.20B-2.8%95+5.6%
Retail$2.27B+2.5%220+7.3%
Special Purpose$1.93B+88.4%56-6.7%
Hotel$1.08B+18.4%15+15.4%
Industrial, Warehouse, Storage$988.3M+3.5%158+10.5%

2026 figures include projected closings and are preliminary.

Market In Graphs

Where The Capital Went

Multifamily and development sites together accounted for $12.23 billion of NYC sales through Q3 2026.

Urban development site with a construction crane at dusk

NYC Sales By Asset Class

Dollar volume, Q1-Q3 2026

Multifamily$6.99B
Development$5.24B
Office$5.20B
Retail$2.27B
Special Purpose$1.93B
Hotel$1.08B
Industrial$988.3M

Year-Over-Year Change

Dollar volume, Q1-Q3 2026 vs. 2025

Special Purpose+88.4%
Hotel+18.4%
Development+9.7%
Multifamily+7.9%
Industrial+3.5%
Retail+2.5%
Office-2.8%
Common Questions

NYC Commercial Real Estate FAQ

How much commercial real estate sold in NYC in 2026?

New York City investment sales reached $23.69 billion across 1,914 transactions through the first three quarters of 2026, up 9.1% in dollar volume year over year.

Which NYC asset class had the most sales in 2026?

Multifamily led at $6.99 billion through Q3, followed by development sites at $5.24 billion and office at $5.20 billion.

Why did NYC sales fall in Q3 2026?

Q3 volume of $6.73 billion was down 25.2% mostly because of several very large trades a year earlier. Excluding trades of $250 million or more, volume rose 4.0%.

Inquire With Mendy Realty

Buying, selling, or financing a New York commercial property? Start with a direct conversation.

718.751.0738
Compiled from public records and published market data. Information is believed reliable but not guaranteed and should be independently verified.

Last updated November 10, 2026. Figures refresh each quarter for 2026-2027.

Protected By
Shield Security