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Distressed Commercial Property Market Heating Up

Charlotte Cuthbertson The Epoch Times 07/23/2009

Williamsburg, Brooklyn is one of the hotspots of commercial property trouble. (Cliff Jia/The Epoch Times)

NEW YORK—The real estate market is gearing up for a deluge of distressed commercial properties. Slower than residential to reach a critical point due to their income-producing and multi-tenanted nature, the commercial real estate market took longer to sour.

Real estate agent's bankruptcy hits Jewish group LARRY HERTZ POUGHKEEPSIE JOURNAL 07/20/2009	Flatiron Owner Seeking Properties in New York, London Armorel Kenna Bloomberg 02/16/2009
RHINEBECK - A Rhinebeck Jewish group's plans to build a cultural and religious center in the town have been temporarily derailed by a real estate agent the organization later learned had filed for bankruptcy, the group's leader said.	Sorgente Group SpA, the Italian investor that controls Manhattan’s Flatiron Building, may increase real-estate spending in New York and make its first purchase in London after prices slumped.
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