The multifamily market will feel the weight of the inventory overhang for at least a couple more years.

The economic downturn appears to have finally made a dent in record-high prices for the Big Apple's for-sale units. However, the depth of the price cuts remains to be seen.

Sales continue to stall in the apartment sector. Yet as more owners find themselves in distress, they will be forced to put their assets on the market at prices that are finally favorable to buyers.

'If we had to start raising our fund today, it would be a lot more difficult than it was.'

A Q & A with Ric Campo

After slowing down the sales market, the lack of financing is driving developers to stall or cancel new multifamily projects.

According to panelists at the recent RealShare New York, the Big Apple's rental and condominium market continues to do well, though some areas have weakened.

The economic slowdown hasn't impacted apartments as much as other property types, but owners are still feeling the heat.