Lack Of Inventory, Not Overvaluation, Spurs NYC CRE Prices

Law360, New York (August 15, 2013, 8:12 PM EDT) -- Price tags for New York City commercial properties may be rising while cap rates remain low, but real estate attorneys say this can be attributed more to a dearth of inventory than a trend in overvaluation, warning Thursday not to expect a plunge any time soon.

A survey released this week by accounting firm Marks Paneth & Shron showed that 54 percent of property executives surveyed believed that Manhattan real estate values in particular are overvalued when compared to commercial property in other cities, citing an...
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