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Greenberger addresses SIOR.

Francis Greenberger, chairman of Time Equities, Inc., spoke before the New York City Chapter of SIOR at the Yale Club last month. A successful real estate investor and entrepreneur, both on the local and national levels during the last 25 years, Greenberger is known for spotting trends in the market before they are commonly known.

Greenberger indicated that activity was beginning to pick up strength and that the commercial real estate picture should stabilize and improve as the City slowly moves out of the recession. He feels the sale market is very competitive today. The recovery is beginning, allowing transactions to happen because prices have finally reached interesting and reasonable levels. As President Clinton begins to ease credit requirements, interest rates continue to decline making both sales and refinancing activities more feasible.

Real estate is also back in favor because with contemplated income tax increases, capital gains tax rates will appear to be favorable, not to mention potential changes in passive loss rules. New York has great potential because of the barriers to entry (e.g. limited land to work with). Although money is still in short supply, this will change. Spreads for lenders will begin to close and over-leveraged properties will present terrific opportunities to owners and others. Brokers should try to line up lenders or other funding sources to move quickly on deal opportunities.

As a result of the above, Greenberger thinks office buildings with strong retail bases in Manhattan may be good buys.
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Title Annotation:Time Equities Inc. chairman Francis Greenberger; Society of Industrial and Office Realtors
Publication:Real Estate Weekly
Article Type:Biography
Date:Apr 21, 1993
Previous Article:Report: property managers upbeat.
Next Article:Is Clinton neglecting housing?

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