News
RECOVERY? IT'S HERE
March 30, 2011
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| REBNY |
| And the fear of the government’s monetary policy is the only thing tempering Newmark Knight Frank’s Brian Waterman’s optimism for the market. Brian, seated left, joined (clockwise) Massey Knakal’sPaul Massey, Boston Properties’ Robert Selsam, Swig Equities’Kent Swig, Vortex Group’s Rick Marek, SL Green’s Steve Durels, Heritage Realty Services’ George Constantin, RXR Realty’s William Elder, and Cushman & Wakefield’s Josh Kuriloff for REBNY’s March Commercial Crossfire: How to Recognize a Recovery. Robert says he knows the market is recovering because a year and a half ago you’d have five brokers quote prices all over the place, and today, five brokers are within $1 or $2 of each other. The consensus: sizable tenants are having a difficult time since there's a shortage of good, large space, and Google’s $1.8B buy opened the Manhattan floodgates. Where would they buy now? The clear winners areDowntown and the West Side. |
