Manhattan,NYC.
NEW YORKCITY –The New York City investment sales market wrapped upunexpectedly as the industry was teetering that 2020 could see aneconomic slowdown. But that isn't the case with the fourth quarterof 2019 ending on a strong note with a boost in dollar volume fromoffice transactions, ground lease transactions, steady,low-interest rates, rapid leasing from tech tenants and a surfeitamount of capital on the sidelines, according to the Avison Youngteam at their press breakfast held at the Rainbow Room in 30Rockefeller Center.
"Wedon't see a big economic downturn in 2020. The CRE market will holdits own," Mitti Liebersohn, president and managing director of NewYork operations at Avison Young, told the attendees.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
