CBRE’s Stacom says overseas investment is peaking: VIDEO

TRD New York /
Jan.January 28, 2014 06:19 PM

The level of international investment in New York City commercial properties could be at its all-time peak right now, according to Darcy Stacom of commercial brokerage CBRE Group in an interview.

Although offshore investments has never been well tracked, Stacom said, they comprise between 60 and 70 percent of the capital dollars spent on the city’s real estate. Chinese investors, for example, have been browsing the market for three years.

“The wave of building in China has reached such a crescendo that their long-term ability to continue to build at that rate is becoming more difficult,” Stacom told Crain’s. “They’re looking to other markets where they can diversify their wealth and do construction.”

CBRE served as broker for Chinese developer Greenland Holding’s acquisition of a major stake in Atlantic Yards last month.

“We looked at who were major players globally and major builders globally that could look at the size and scale and say this looks of interest to me.”

Matthew Stacom, a longtime top broker at Cushman & Wakefield and Darcy’s father, died over the weekend at age 95, as previously reported. [Crain’s]Mark Maurer

Related Articles


Who needs New York? Garden State multifamily portfolio trades for $146M

How much for that CVS building? In Greenwich, the price is $30M

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

Multifamily properties trade in Bridgeport, Toll Brothers buys in White Plains and more Westchester & Fairfield real estate news

Have no fear? Debt brokers say Deutsche Bank quelled concerns about real estate lending

Somerville moves forward with 31-acre transit village, Woodcliff Lake office property sold for $36M & more North Jersey real estate news