"Difficulties will continue in the year to come. While I don't foresee a double dip, values will continue to erode modestly," says Elie Hirschfeld, President of Hirschfeld Properties, LLC. "The capital market will slowly come back into real estate, but sellers will need to soften a bit to achieve the realistic sales prices that will persuade investors to invest. That being said, the market is loosening up. Although investors are concerned, there is huge opportunity to benefit from the depreciated property pricing, so many investors are scouring the New York market to scoop up the good deals. Personally, I see opportunities in both commercial and residential."
Saturday, December 26, 2009
Manhattan Real Estate Mogul, Elie Hirschfeld: Real Estate Will Continue to Dip in 2010
New York real estate tycoon, Elie Hirschfeld, President of Hirschfeld Properties, LLC released the following commentary regarding the 2010 Manhattan NYC real estate market.
"Difficulties will continue in the year to come. While I don't foresee a double dip, values will continue to erode modestly," says Elie Hirschfeld, President of Hirschfeld Properties, LLC. "The capital market will slowly come back into real estate, but sellers will need to soften a bit to achieve the realistic sales prices that will persuade investors to invest. That being said, the market is loosening up. Although investors are concerned, there is huge opportunity to benefit from the depreciated property pricing, so many investors are scouring the New York market to scoop up the good deals. Personally, I see opportunities in both commercial and residential."
"Difficulties will continue in the year to come. While I don't foresee a double dip, values will continue to erode modestly," says Elie Hirschfeld, President of Hirschfeld Properties, LLC. "The capital market will slowly come back into real estate, but sellers will need to soften a bit to achieve the realistic sales prices that will persuade investors to invest. That being said, the market is loosening up. Although investors are concerned, there is huge opportunity to benefit from the depreciated property pricing, so many investors are scouring the New York market to scoop up the good deals. Personally, I see opportunities in both commercial and residential."
New York City 2010
