New York City Tri-State: Signs of Increased Confidence

With the turning of the calendar to 2009, there are some signs of increased confidence among investors. Whether it's the new year, the massive spending package proposed by Obama, a somewhat stabilizing stock market or a combination, investors appear to be more receptive to considering and touring new offerings. Just last week, we conducted 20 tours of a new offering, agreed to terms on a New Jersey office building, and went hard on a 400+ unit apartment portfolio. While many investors remain on the sidelines, others are active.