NEW YORK CITY-The owners of 111 Eighth Avenue are betting that recovery in the real estate market will fetch their three million-square-foot office building $2 billion.
However, brokers, analysts and investors do not share this notion. As only two years have passed since the downturn in the real estate market kicked off, they are not sure if the trend indeed represents the comeback of the billion-dollar-transactions era. For the full story, go to The New York Times.
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