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Posted: December 23, 2013
David Zere, Zere Real Estate Services
What are your predictions for commercial real estate in 2014?
2014 will be a better year for the commercial real estate market and for the commercial and residential construction industries. With recent increases in capital gains taxes and Affordable Care Act 3.8 investment tax, along with continuing effects on lending because of the Dodd Frank Act, I believe that commercial market will continue to struggle but will improve over time.
Multifamily rental and condo construction will prosper next year and more projects will be put in for site plan review in the various Long Island municipalities.
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