Uncertainties remain today in the commercial real estate market as a whole, but things look sunny at least in 2025 for New York's Tri-State region, which includes coverage of New York City, Long Island, part of New Jersey, and other New York cities, according to a report from CBRE.
The CRE firm listed a few elements that will drive investment activity in the area. One of them is consumer spending. While retail immediately comes to mind, CBRE thinks strong consumer appetite will impact the entire CRE space from office to multifamily.
Another is that employment remains healthy, which CBRE said will give the Federal Reserve the "policy flexibility to lower rates slowly in 2025 in light of potential risks of higher inflation."
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