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New construction activity has been controlled, and 62% of new product is speculative.
Factors like move-ins improved in September, but the market is still seeing high concessions.
The shift in demand has also created new opportunities for housing development and housing investment.
All three Downtown submarkets underperformed their five-year quarterly average during Q3 2020, according to CBRE.
Retail and lodging post highest servicing rates on record.
In the last decade, the average US apartment size decreased by 100 square feet to an average of 931 square feet.
Investment-grade triple-net tenants should produce higher leveraged returns for investors over the next several years.
Investment sales totaled $1.1 billion in Manhattan in a total of 21 transactions, the lowest in a decade.
In the topsy-turvy world of the current pandemic, leasing activity surged in the third quarter but negative absorption reached record highs and asking rents fell.
Filings pick up after a slow August.