If this happens a few more times it will really hurt NYC real Estate
Markets tend to be a pendulum. Movement changes direction and swings too far in that direction. The key to such investment is to determine how far is too far and start doing the opposite. We appear to now have an event with the possibility to extend the movement in a further negative direction. I think NYC and possibly all of NY commercial real estate will be severely damaged for years. I wonder if AG James has caused exactly what she charged Trump with for other commercial real estate owners. Building values drastically decline, lenders are scared, owners will need to disclose those reduces for fear of AG James or shareholders coming after them and taxing authorities are going to be forced to lower valuations which mean lower tax revenue. The AG James recession has now hit NYC.