William Rudin, president of Rudin Management, told CNBC that he sees some positive signs in the commercial real estate market. Rudin said companies are adding space to their leases in Rudin Management’s buildings. Law firm Loeb & Loeb, for example, added about 30 percent more space to the lease it just signed at Rudin’s 345 Park Avenue. Some companies, like Bank of America, have taken sublease space off the market. But the commercial debt market is still problematic, Rudin said. Debt problems will probably peak in 2017 or 2018, Rudin said, when loans made a few years ago come due.
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