No. of Recommendations: 1
A perfect storm of plunging property values for aging buildings, weak tenant demand coming out of the pandemic and high interest rates for new loans and refinancing has left the $2.4 trillion office building sector wobbling.
For some real estate investors, that may be a good thing.
Several big office buildings nationwide — including in Manhattan — have recently sold at steep discounts of as much as 70 percent to opportunistic buyers, who are gambling that they will score big profits when prices eventually rebound.
nytimes.com - Distressed office buildings buyers 