Name: Lev Mavashev
Title: Principal
Company Name: Alpha Realty
What are your predictions for commercial real estate in 2021?
2021 will be a buyer’s market! Currently we are seeing a flood of sellers in NYC. I think we will continue to see that trend with many more properties expected to hit the market in 2021. Furthermore, I am not seeing many new buyers entering the NYC market, as the regulatory and political environment continues to be harsh. Unless pricing gets attractive enough to lure in buyers, downward pressure on pricing will continue into 2021.
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