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NYC Cap Rates Look Stable Amid Interest Rate Rise

NEW YORK CITY-Brookfield Financial's analysis shows “an implied resiliency” in the Manhattan office market, says managing partner Eric Anton.

By Paul Bubny | Updated on September 16, 2013

NEW YORK CITY-Notwithstanding a rise in interest rates, cap rates for Manhattan office should remain low for at least the balance of 2013, Brookfield Financial says in a new report. The finding is based on a 10-year trend analysis of the investment sales market here.

“Everyone is concerned about what rising interest rates will mean for cap rates, but our analysis reveals an implied resiliency in the Manhattan office market,” says Eric Anton, managing partner of Brookfield Financial. Provided the interest rate climb is “slow and incremental” in the last few months of this year, “we project cap rates to remain stable.”

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