Our commercial advisory firm just released the Manhattan Building Sales Report prepared in conjunction with Massey Knakal, a leading commercial real estate brokerage firm.

My commercial valuation partner John Cicero, MAI in our firm Miller Cicero oversees the report preparation. The report is the only one of its kind that tracks cap rates, income multipliers, price per square foot and number of sales.

The format has changed to quarterly and the expanding series will be more borough-specific.

An excerpt:

>The first quarter of 2009 property sales market in Manhattan is
characterized by a dramatic slowdown in sales activity. This is
the first period tracked that truly reflects the market mentality
created in September 2008 with the collapse of Lehman
Brothers, the federal bailouts of AIG, Fannie Mae and Freddie
Mac, and the ensuing paralysis of the credit markets throughout
the fall. (In contrast, our last market report for the second half
of 2008 included numerous sales that were negotiated pre-
September)…

Massey Knakal will distribute nearly 300,000 hard copies of the report over the next few months.

Massey Knakal Manhattan Building Sales Report [1Q09]

Report Methodology [Miller Cicero]