Apartments are leading delinquency rates in New York

08/23/2010 | Wall Street Journal, The

New data from Trepp shows the overall delinquency rate for multifamily buildings in the New York area jumped to 7.73% this year. That compares to 3.9%, 6.3% and 4.4%, respectively, for office, hotel and retail delinquency rates. The collapse of Riverton Houses in Harlem and Peter Cooper Village and Stuyvesant Town in Manhattan account, in some part, for the high multifamily delinquency rate.

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