An updated monthly report by U.S. provider of nationwide property data ATTOM reveals that commercial foreclosures remain elevated. Starting in June 2023, foreclosure numbers saw a sharp increase, peaking at 752 in May 2024, before settling at 695 in ATTOM’s most recent data for September 2024. This recent surge suggests renewed financial stress or changes…
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In spite of market volatility, KPG Funds, a leading commercial real estate investment firm specializing in transforming undervalued properties into premium office spaces, predicts a 50-60% increase in NYC commercial real estate pricing as interest rates decline. Gregory Kraut, CEO of KPG Funds, shared the company’s insights: “As we observe the current market dynamics, we…
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Commercial real estate bargain hunters snap up aging office buildings in the U.S. for steep discounts of as much as 70%, a sign of the pain in the property market, The New York Times reported. Earlier this month, two real estate firms paid less $50 million for Midtown Manhattan tower, according to Bloomberg. In April, Yellowstone…
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Economists warn that the U.S. commercial real estate industry is in trouble following the recent meltdown in the banking industry. A Goldman Sachs report shows that about 80% of all bank loans for commercial properties come from regional banks that are experiencing the most pressure during the current crisis, which began earlier this month with…
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The EY’s Future Workplace Index reveals surprisingly rosy attitudes on commercial real estate investment despite the current inflation and interest rate environment. The US economy is undeniably cooling, and a recession is anticipated in 2023. However, regardless of investment decisions, the macroeconomic outlook is forcing leaders to scrutinize their office portfolios from a new perspective.…
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