Sky-high prices for Manhattanapartment properties and rock-bottom low yields for investors may have reached the limit. “The yield is down to the bare bones,” says Peter Schubert, managing director of capital markets for Transwestern. “I am calling the bottom.” New York City’s clear strengths, including strong demand for rental apartments and a sharply limited supply of new apartments, are no longer enough to justify the prices paid by investors for ...
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