Real Estate » midtown http://www.strategicactivism.com Thu, 09 Feb 2012 02:40:01 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Commercial Real Estate Collapse – Midtown Manhattan http://www.strategicactivism.com/commercial-property-realestate/commercial-real-estate-collapse-midtown-manhattan http://www.strategicactivism.com/commercial-property-realestate/commercial-real-estate-collapse-midtown-manhattan#comments Thu, 18 Feb 2010 20:23:47 +0000 admin http://www.strategicactivism.com/commercial-property-realestate/commercial-real-estate-collapse-midtown-manhattan From the October 6, 2009 PBS “News Hour.”

One sees this every day. Storefronts on Park Avenue South where overpriced restaurants sat two years ago are empty with “For Rent” signs, something one never saw in such neighborhoods. Traditionally in NYC, property changes hands in private deals, never through the posting of rent signs. With 1% down payments, commercial real estate makes the subprime meltdown look outright responsible.

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