NEW YORK CITY—Most real estate executives believe commercialreal estate property values here have reached their peak. However,that is not to say executives aren't bullish on Manhattan realestate. In fact, they believe New York City is mostly insulatedfrom the negative effects of today's global crises.
According to the latest Gotham Commercial Real EstateMonitor authored by accounting firm MarksPaneth, 71% of New York City property professionalsbelieve real estate values have hit their high water mark, which isconsiderably higher than the 54% who said values had reached theirpeak in a previous Marks Paneth survey released in May.
In the survey released today, a total of 35% of executives sayvalues will begin declining, while 36% contend they will hold theirvalue and 21% believe they will increase in the short term.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
