From Crain's NY

People looking to buy into New York City’s office market say a market recovery is on the horizon. Some opportunists are mobilizing.

Commercial real estate investors are daring to become hopeful again, particularly when it comes to New York real estate.

Today, investors find it easier to envision a commercial real estate market recovery than at any point during the past 24 months, according to the first-quarter findings of PricewaterhouseCoopers' Korpacz Real Estate Investor Survey. Still, opportunists acknowledge that challenges and concerns still exist.

“Investors are noticing the bottom of the market is near, but not yet here,” said Susan Smith, director of PricewaterhouseCoopers’ real estate advisory practice and editor in chief of the survey. “They don’t expect much deterioration in terms of market values and fundamentals.”

Ms. Smith added that while things may remain weak, investors aren’t expecting the steep decline or aggressive deterioration that was recorded during the last two years.

According to the survey, overall capitalization rates—a key measure of expectations of property income and value—have started to stabilize, and even slightly decline, in certain markets and for quality assets...

http://www.crainsnewyork.com/article/20100316/REAL_ESTATE/100319929

Come on Bears! Let 'em have it. You know you want to.

Let him have what? Nothing to argue with. If my job was to deploy money in commercial real estate I would be out there looking as well.