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Ross says NYC real estate strong as ‘storm clouds’ gather

Posted on 10 November 2011

Manhattan real estate remains strong even as development costs rise and financial markets sputtered in the past few months, according to top New York City real estate executives.
“When you look at New York, it’s like an anomaly in the United States,” Stephen Ross, chief executive officer and founder of Related Cos., the developer of the Time Warner Center, said today on a panel at the Bloomberg Commercial Real Estate Summit in New York. “The real estate market is very strong. We’re very close to the highs of 2008.”……………………………………….Full Article: Source

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