Buyers Snap Up Aging and Empty Office Buildings for Deep Discounts

Bargain hunters are getting deals of up to 70 percent, a sign of the pain in the commercial property market that could lead to large losses for banks and investors in real-estate-backed loans. Real Estate (Commercial), Prices (Fares, Fees and Rates), Mortgages, Foreclosures, Renting and Leasing (Real Estate), Manhattan (NYC), United States Bargain hunters are getting deals of up to 70 percent, a sign of the pain in the commercial property market that could lead to large losses for banks and investors in real-estate-backed loans. NYT > Business