Impact of refinancing options unclear, Newmark’s Gosin says

While the commercial market suffered in the first quarter of the year, Newmark Knight Frank CEO Barry Gosin told CNBC that leases are being signed once again. “It was a pretty bleak first quarter,” Gosin said. But the second quarter gave way to some improvement: “at least businesses are more confident to make decisions so leases are being signed.” The burning question at this moment is how refinancing options — or a lack thereof — will affect commercial market stability. “With everything assaulting the banks, they’re still hoarding cash and as a result they’re very easily going to roll over some of these loans,” Gosin said.