From left: Dan Fasulo, Jahn Brodwin, Simon Ziff and Daniel Alpert
From the April issue: While those in the industry have been relieved to see the New York City commercial real estate market bounce back over the past year, the resulting price increases have prompted many investors and developers to look elsewhere for deals.
Instead of searching for properties to buy in the Big Apple, they are, in many cases, turning to other markets — from prime locations like San Francisco and Los Angeles to secondary markets like Austin, Tex.
“People need to realize that the number of assets truly available for a sales price that makes sense is very few in New York City,” said Daniel Alpert, managing partner of Westwood Capital, a Manhattan-based real estate investment bank. [more]
