NEW YORK CITY—New York commercial real estate executives areincreasingly likely to say commercial property in the city isovervalued in comparison with real estate in other major globalcities. In fact, many believe there is an asset bubble, thanks tolow interest rates.

Those are among the findings of accounting firm Marks Paneth'sspring 2014 Gotham Commercial Real Estate Monitor, a survey top NewYork City commercial real estate professionals, including owners,brokers, agents and attorneys and accountants specializing in thesector.

Nearly half—47%—of executives said they think commercialproperties in New York are "moderately overvalued" compared withproperty in other major global cities. This represents a nine-pointuptick in the sentiment compared with June 2013 and a three-pointuptick from January 2013.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.