clock menu more-arrow no yes mobile

Filed under:

Naughty List

New, 8 comments

A report from trend-tracking Real Capital Analytics has some shocking findings about the commercial real estate world: "In the New York metro area, there are already 32 commercial properties in distress. Those buildings, valued at $3.4 billion, belong to owners who have either gone bankrupt, defaulted on their mortgages or put their property in foreclosure. Another 236 properties, valued at $8.6 billion, are potentially troubled, according to the study. That means the buildings are only solvent by a slim margin and that a major tenant filing for bankruptcy could push the property over the edge." [Crain's]