Marks Paneth Releases Findings of Commercial Real Estate SurveyFebruary 9, 2018
New York, NY (February 9, 2018) – Leading accounting, tax and advisory firm Marks Paneth LLP has released the results of the Winter 2017-2018 Gotham Commercial Real Estate Monitor survey. The survey gauges the attitudes of New York City property owners, developers, brokers, fund managers and other real estate professionals on current and future industry conditions.
Survey responses revealed an overall sense of uncertainty about prospects in the New York City commercial real estate industry over the next 12 months. Outlooks were split between pessimistic (29 percent), neutral (32 percent), and optimistic (39 percent – down from 68 percent in 2016).
The survey also found disagreement over the expected demand from foreign investors in the next 12 months. Forty-one percent predicted demand will rise, and 37 percent predicted demand will fall.
Key areas of consistency among survey respondents included: declining property values in the retail sector; interest rate increases putting pressure on CRE developers to secure funding more quickly, and heightened demand for non-traditional lending sources.
Click here to receive a copy of the full survey results.
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The Gotham Commercial Real Estate Monitor represents the findings of a survey of commercial real estate leaders in New York City. Participants included property owners, property managers, fund managers, investment bankers, brokers, agents and real estate attorneys.
The research employed self-administered questionnaires completed online by respondents. Marks Paneth, the research sponsor, supervised development of the survey questionnaire and Business Research Solutions managed the research project. Survey was fielded during November 2017.