$107B of income-producing property in distress

December 17, 2008 11:11AM

At least $107 billion worth of income-producing properties, including
hotels, offices, warehouses and apartment complexes, is in or headed
into distress, according to data compiled by research company Real
Capital Analytics. In the New York area, 268 properties worth $12
billion are on the list. These include WorldWide Plaza on Eighth Avenue
and 50th Street, from the portfolio acquired by Harry Macklowe in
February 2007, and 450 West 33rd Street. 

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