NYC Multifamily: Perspective on GRMs and PPUs

Editor’s Note: This week’s edition is short and sweet. Have a quick read-through.

When 2020-2022 looks like this:

Source: Pincus Media

And then interest rates do this:

Source: St. Louis Fed Economic Data

2024 looks like:

Source: PropertyShark sales data

Source: PropertyShark sales data

Source: PropertyShark sales data

Summary

And 2025 might look like:

Source: Loopnet.com

Source: Meridian Investment Sales

If you are a borrower and your lender’s name rhymes with stag jar, it may be worth getting ahead of 2026. Price per unit is dropping (down ~$13k/unit in one year on the above anecdotal numbers). Buyers, get ready.

I am bullish on NYC multifamily. Please reach out if you have questions.

Best Regards,

Romain Sinclair

646 326 2220