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Commercial Real Estate in Lower Manhattan

Started by ns1437
over 17 years ago
Posts: 4
Member since: Feb 2008
Discussion about
Hey all I signed onto this site when i was buying my apt in lower manhattan. Now my company is looking at a building for purchase off South William. Anyone have any thoughts on buying a building (entire bldg) in lower manhattan? Good/bad? Thoughts on the future downtown? Good investment? Any comments are welcome. Thanks
Response by TwoFacedLiar
over 17 years ago
Posts: 44
Member since: Jul 2008

ns1437, typically real estate investing requires significantly more discipline and analysis than coming to a board with such broad-based questions.

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Response by EddieWilson
over 17 years ago
Posts: 1112
Member since: Feb 2008

Uh, I don't know if Manhattan commercial RE is where you want to be looking...

>> Office market gets worse in Manhattan
More space available as leasing activity drops 13% in first half of 2008, new report shows.
http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20080709/FREE/662816795/1058/newsletter11

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Response by will
over 17 years ago
Posts: 480
Member since: Dec 2007

Eddie Wilson has a point, but my guess is that area will be flat the next 1-3 years, but it will start soaring as we get to 2011-2013, once the economy is in relatively strong shape and the WTC and Fulton ST Station get closer to completion.

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Response by EddieWilson
over 17 years ago
Posts: 1112
Member since: Feb 2008

"soaring as we get to 2011-2013"

ROTFL.... I'm writing that one down.

2011, we'll still be picking through the Wall Street mess....

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