Q
ueens' commercial real estate market saw significant growth in the first half of 2025, with investment sales reaching $1.72 billion, a 36% increase from the second half of 2024 and a 3% year-over-year rise. Transactions also rose 7% over the same period.

    Multifamily properties led the way, with $463.3 million in dollar volume across 135 transactions, an 8% increase half-over-half and 9% year-over-year. Investors favored smaller, free-market buildings with fewer than six units, which accounted for nearly 60% of multifamily deals and 39% of dollar volume.

    A notable affordable housing transaction was Tredway's $88 million acquisition of the Ocean Park Apartments in Far Rockaway, a 602-unit complex brokered by Ariel Property Advisors. Development properties saw a surge in activity, with $338.4 million in transactions across 46 deals, a 263% increase in dollar volume and 142% rise in transactions compared to the second half of 2024.

    The City of Yes initiative and policy drivers like the 485-x tax abatement contributed to this growth. A major development deal saw Baron Property Group purchase 30-25 Queens Boulevard from LargaVista Companies for $82.5 million, with plans to build a 46-story residential tower.

    Industrial properties saw a decline in dollar volume, but average pricing rose 9% to $622/SF. The largest industrial transaction was SRM Concrete's $60 million acquisition of a waterfront plant in College Point. Retail properties posted a 5% increase from the second half of 2024, with Flushing accounting for nearly half of retail dollar volume and transactions.

    Significant retail deals included a supermarket site sale at 41-79 Main Street for $27 million and Premier Equities' acquisition of 39-09 Main Street for $27 million.