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NY: Real estate investors see their returns deflate

Posted on 23 December 2010

From Crainsnewyork.com: As the Manhattan office market continues to regain its footing, the amounts of money investors are making on the properties they acquire continue to drop. The rate of returns investors are realizing on purchased office properties has fallen to levels not seen since 2008, according to a survey of investors conducted by PricewaterhouseCoopers and released this week.
The average capitalization rate for Manhattan commercial properties—the rate of return on an investment anticipated by a buyer in the first year of ownership—fell to 6.02% in the fourth quarter, down from 6.23% in the third quarter and 6.65% a year earlier. The rate stood at 6.07% in the first quarter of 2009 and 5.81% in the fourth quarter of 2008……………………………………….Full Article: Source

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