NEW YORK CITY-As real estate markets across the US still facing problems, the New York market is no exception.
New York City has witnessed a significant increase in delinquencies among commercial real-estate properties due to declining rent rates in the area while financing also remains a big problem in the region. Furthermore, vacancies in the New York City region have also witnessed a sharp increase. However, upon closer examination of the alarming statistics, apartment buildings have been identified as the main victim. For the full story, go to Wall Street Journal.
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