| The value of New York City’s more than 1 million properties may rise 3.8 percent to $845.4 billion this fiscal year as the real estate market recovers, according to a projection by the city Finance Department.
Commercial properties, including Manhattan’s signature office towers, will gain the most, with a 7.9 percent increase to $222.7 billion, according to the tentative assessment for fiscal 2013. “Market forces” -- changes in supply and demand - - accounted for more than half that increase, the Finance Department said...............................................Full Article: Source
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