Monday, November 14, 2011
New York: It's time to get creative in the commercial real estate market. Enterprising developers have bought buildings that are in less than ideal shape but are located in up-and-coming improving neighborhoods.
Will these investments pay off? Time will tell.
“What all of these buildings have in common is ‘location, location, location,’” said Howard Fiddle, the vice chairman of CB Richard Ellis. “They are all in very different neighborhoods that are improving.”