Recession To Recovery II
By Mike Slattery,
REBNY Research Department
Senior Vice President
Since the peak of the market in Fiscal Year 2009, the market value of residential rentals, cooperative, and condominium units citywide have increased between 23 and 50 percent. Over the same period, the market value of office buildings and hotels has increased between 42 and 63 percent. Below is a chart with the market value changes for each of the property types noted above- citywide, in Manhattan, and in Brooklyn. According to the Department of Finance, the construction of new hotels accounts for a sizable share of the growth of market value in the hotel category.
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