New York CRE market may be worst since early 1990s

01/8/2010 | NYTimes.com

New York City's commercial real estate market is struggling and has further to fall, according to insiders. "I have been in the business for 12 years. I have never seen it this bad," said Peter Von Der Ahe, vice president of investments for the brokerage Marcus & Millichap. The situation might be at its worst since the early 1990s, according to veteran real estate experts.

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