Manhattan Property Still Overvalued, Real Estate Execs Say

Law360, New York (August 14, 2013, 3:32 PM EDT) -- A majority of New York real estate executives said that Manhattan commercial real estate is overvalued and has been influenced by foreign investment, in a survey conducted by accounting firm Marks Paneth & Shron this summer.

The majority of property executives surveyed — 54 percent — put Manhattan commercial real estate values in the overvalued category when compared to commercial property in other major global cities, according to the Marks Paneth & Shron Summer 2013 Gotham Commercial Real Estate Monitor, an anonymous survey of more than 100...
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