The recent travails of the stock market have proven to be a boon for investment real estate. The appeal of being able to see what you own, and touch it, is proving irresistible to investors from here and abroad. We are seeing feeding frenzies for apartments, where buyers are making offers sight unseen, and office buildings, where we are surprised at the final sales prices.
Investors are being priced out of NYC and Boston, and are turning to us to look for available product. We are happy to oblige, and are getting used to learning the nuances of moving money from country to country. It's nice to know that the United States is still the place where people feel that their money is well spent.
If you are a buyer, you have new competition from overseas. If you are a seller, you have new buyers. This may be the time to cash out, and it may not matter whether you own apartments, retail, industrial, or commercial real estate.
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