Talking Points


| spreuss@queenscourier.com |



2011 was a transitional year in the Queens Commercial Real Estate marketplace.  Although there were some dips throughout the trailing 12 months of activity, overall the year was encouraging.  Some ‘talking points’ to highlight year-end activity moving forward should be:

 

-324 transactions occurred in 2011, an increase of 17% from 2010 with 71 occurring in the fourth quarter down 27% from the third quarter of 2011

 

-358 properties sold in 2011, an increase of 19% from 2010 with 78 occurring in fourth quarter down 26% from third quarter of 2011

 

-The aggregate sales consideration in 2011 was $1,300,000,000, an increase of 139% from 2010 with $191,000,000 sold in the fourth quarter, down 71% from third quarter of 2011.

 

-The Queens market has not seen two consecutive quarters of increasing or decreasing dollar volume in 2011

 

-The market average price per square foot was $250, up 7% over 2010

 

-The average capitalization rate was 7.08% up 41 basis points with mixed-use up 124 basis points from 2010 levels

 

-Mixed-use buildings accounted for 31% of the properties sold in the fourth quarter of 2011.