Hotels, offices and retail storefronts are expected to trail a broader economic recovery next year; so investors are pinning their hopes on a COVID-19 vaccine in 2021.
More commercial properties will go belly-up during the first half of 2021 before commercial real estate begins to stabilize in the second half of the year, experts say.
Meanwhile, warehouses and distribution centers, the one bright spot in the industry, is expected to become even more valuable.
August 4, 2023
400 new affordable apartments were announced for the Financial District this past week. Roughly a third of the new buildings at 5 World Trade Center, will be set aside for middle- and working-class New Yorkers, with 80 of those apartments earmarked for people who lived and worked near the old World Trade Center as well… Read more »
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
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