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Survey: Most CRE Execs Feel NYC RE is Overvalued

NEW YORK CITY—In the latest Gotham Commercial Real Estate Monitor, authored by accounting firm Marks Paneth, the majority of respondents believe that prices have peaked.

By John Jordan | johnjordan | Updated on May 23, 2016

William Jennings, partner-in-charge, Marks Paneth William Jennings, partner-in-charge of Marks Paneth

NEW YORK CITY—A vast majority of commercial real estate executives are bullish on the city’s commercial real estate market in 2016. Likewise, an overwhelming number of CRE executives feel the city’s commercial real estate is overvalued.

The latest Gotham Commercial Real Estate Monitor authored by accounting firm Marks Paneth reports that 64% of the 145 commercial real estate executives polled are optimistic about the city’s commercial real estate market this year. Sixteen percent of respondents are very optimistic about the commercial market’s prospects this year, while 48% penciled in their moderately optimistic view of the market this year.

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