NY Realty for Opportunistic Buyers

Hoping to take advantage of wreckage in the wake of the coronavirus pandemic, investors are preparing to snap up commercial real estate at rock-bottom prices. Blackstone Group, Kayne Anderson Capital Advisors, Starwood Capital Group and other investment firms are sitting on roughly $300 billion of equity ready for deployment, said Douglas M. Weill, a founder of Hodes Weill & Associates, a global real estate capital advisory firm in New York. Coming out of the downturn, investors that find deeply discounted properties will profit by simply riding the recovery. However, Buyers in this new real estate cycle must calculate potential costs to redesign or upgrade properties to fit new societal and health norms. How the virus is shaping consumer and business attitudes toward commercial real estate should be a question uppermost in the minds of distressed buyers, but it doesn’t look to be that much of an issue and all signs point to a benefit for distressed buyers.