It was a horrible year for New York’s multifamily market. The total dollar value of deals in 2019 dropped 40 percent from the year before to $6.91 billion, the market’s lowest total since 2011, according to Bloomberg, citing data from Ariel Property Advisors. There were 290 deals overall, a decline of 36 percent and the first year since 2010 with fewer than 300 deals. The state’s new rent law was likely the main culprit, as
source https://therealdeal.com/2020/01/27/multifamily-market-had-its-worst-year-since-2011/
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