Worst probably over for New York property, Sternlicht says

12/10/2009 | Bloomberg · ClipSyndicate

Condominium and apartment sales in New York are showing new strength, but the road ahead might not be without potholes, said Barry Sternlicht, chairman and CEO of Starwood Capital Group. What happens next in commercial real estate will have a lot to do with interest rates, he said. "If interest rates rise, you might see a lot of people fall through the ice," he said. "If the economy gets better, you'll see a lot of people dancing on the ice."

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Bloomberg · ClipSyndicate

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