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New York

More partying ahead for the NYC market — or a hangover?

After last year’s banner year, real estate pros weigh in on the outlook for 2015

From left: Jonathan Miller, Andrew Heiberger and Joseph Harbert
From left: Jonathan Miller, Andrew Heiberger and Joseph Harbert

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From the January issue:  There was plenty of Dom to go around on New Year’s Eve, with both the commercial and residential sides of the New York City market having racked up a year of strong pricing and blockbuster deals. So when does the hangover strike? Probably post-2015, according to our panel of market experts, though the word “concern” is coming up often. To take interest rates as an example: yes, some of our panelists expect rates to rise, but a jump from the current extremely low levels seems to be baked into market expectations. [more]