Commercial Real Estate to Remain Strong in 2007

Ironically while the residential sector will be struggling and have very little growth in 2007, commercial market appears to have a bright outlook. The commercial market has been picking up quiet quickly, with vacancy rates being all time low in many markets across the nation. Also with job growth, demand for office space has increased significantly.

"Among the 1,042 private and institutional investors surveyed, 60 percent plan to boost their investment in the commercial real estate market by an average of 19 percent over the next 12 months, according to the survey."

Source

Sotheby's Building For Sale

The New York headquarters for Sotheby's is for sale. Its current owner RFR Holding, listed this unique building for sale. Asking price a fantastic bargain at $500 Million. RFR bought this building from Sotheby's in 2002, after Sotheby's spent $140 on an impressive make over which added 6 stories to the property and complete redesign, now often being referred to as "ethereal box."

Source