Spencer Levine of RAL, a New York City commercial real estate firm, anticipated a rebound in property dealmaking in 2025; however, the reality has been markedly different. Transaction volumes have dropped, especially in key sectors like hotels and industrial properties, which saw declines of 52% and 34% respectively in April compared to the previous year. This downturn may be attributed to various factors, including the impact of the Trump administration's trade policies disrupting global commerce and altering demand dynamics in the real estate market.
"I don't think there's been nearly as many properties in New York that have been trading hands," Levine said, adding that his firm had hoped to acquire antiquated office properties in the city that it could convert over to residential use.
In April, sales activity for two major segments of the property market, hotels and industrial warehouses, careened by 52% and 34% respectively, from the same month a year prior, according to MSCI.
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