The Commercial Observer reports 2016 investment sales activity in Manhattan came in at $57.8 billion, down 25-percent from its 2015 record of $77.1 billion. New York City’s multifamily market hit a 5-year low in 2016, accruing only 656 multifamily transactions. While Queens saw a 59-percent increase in multifamily deal volume, multifamily deal volume in Brooklyn declined 28-percent and the Bronx declined 17-percent, according to The Real Deal. Read more