September 2021 – Investors Still Shy in NY, while LA office surpasses NY Again
Comparatively, the LA Office Market had monthly investment in 2021 of $407 million, compared to NY which had $254 million. This is quite a reversal considering that in 2019 NY had monthly sales volume of $1.05 billion, compared to LA, which had $741 million.
The level of investment in the NY Commercial Real Estate Markets remains stalled, particularly for office and multi-family assets. The industrial and retail markets are making there way back to 2020 levels of monthly sales volume, but investors remain cautious about office and multi-family assets.
The COVID-19 Pandemic and its re-emerging Delta Variant continues to push investors to the sideline. The uncertainty on the geo-political front has also exacerbated the appetite of investors.
Market participants eagerly await the true recovery, but more time is needed to steady the ship. Review for yourself the trends impacting the NY and LA markets by reading our series of September 2021 Publications.
September 2021 Monthly Publications
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