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All-Cash Buyers Drive Real Estate Market in Urban Areas.

1 min read
Source: Bloomberg
All-Cash Buyers Drive Real Estate Market in Urban Areas.
Photo: Bloomberg
TL;DR

Despite the struggling commercial real estate market in Manhattan, wealthy investors are still drawn to owning property in New York City. Smaller investors are taking advantage of discounts and opportunities left by institutional buyers, with some purchasing properties at a 7% discount from previous sale prices. However, rising interest rates and partially empty offices may lead to widespread defaults in the market.

Topics:businessreal-estate#commercial-real-estate#discounts#new-york-city#property-market#real-estate#wealthy-investors
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  1. New York's Empty Office Buildings Lure Rich Families Hunting Bargains  Bloomberg
  2. All-cash offers make Charlotte's residential real estate out of reach for many  Axios Charlotte
  3. In some Staten Island neighborhoods, more than 40% of home sales are all-cash: Data  SILive.com

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