When evaluating a building in any U.S. market, the city’s unique characteristics will impact the due diligence process and, ultimately, the purchase decision. In Manhattan, where 82 buildings sold in 2013, two important factors I work with clients to evaluate during the due diligence process are age and location. Compared to most markets in the U.S., New York City is an older city. The average Midtown Manhattan commercial office building is 61 years old. When compared to average ...
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