Experts Bullish On Lower Manhattan Despite Flood Risk

Law360, New York (January 27, 2014, 7:59 PM EST) -- Commercial real estate executives expect the price of owning and leasing property in Lower Manhattan to rise significantly this year thanks to the submarket's increasingly positive performance across asset classes, demonstrating that concerns about the area's vulnerability to storms have not outweighed its allure.

A recent survey conducted by accounting firm Marks Paneth LLP found that about 51 percent of more than 100 top-level real estate executives believed that commercial property prices would rise in Lower Manhattan this year, while only 6 percent thought they might...
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