Massey: Commercial Market Weak in Q1
Brooklyn had the weakest commercial real estate market last quarter, with a meager 107 properties changing hands, down 24.6 percent from the first quarter of 2009; likewise, the dollar volume was down from $209 million to $162 million over the same period. (By comparison, in the first quarter of 2006 sales volume was $1.1 billion.)…
Brooklyn had the weakest commercial real estate market last quarter, with a meager 107 properties changing hands, down 24.6 percent from the first quarter of 2009; likewise, the dollar volume was down from $209 million to $162 million over the same period. (By comparison, in the first quarter of 2006 sales volume was $1.1 billion.) One more positive sign was a rise in price per square foot from $160 to $180.
Brooklyn Property Report Q1 2010 – PDF [Massey Knakal]
landlord – your following expenses are past due…
Mortgage
PMI
Water
Insurance
Plumbing invoice
Electrical invoice
Roofing invoice
Legal fees
Property taxes
Credit card bill for new boiler
Cost recovery for unpaid rent/vacancies
Damn! Renting is soooooooo easy! No rush to buy, especially at 1/0.625 times fundamental values.
***Bid half off peak comps***
BHO – Your rent is past due!
Big suprise.
“One more positive sign was a rise in price per square foot from $160 to $180.”
Enjoy the “green” while it lasts. Volume will increase again and price/SF will fall.
***Bid half off peak comps***