by Massachusetts Institute of Technology, Dept. of Economics in Cambridge, MA .
Written in English
This paper is able to put together a data base of 86 repeat sales transactions for office properties in lower and mid town Manhattan spanning the years from 1899 through 1999. Using this very limited data base, decade-interval changes in real property prices are estimated - with varying degrees of precision. Our conclusions are two. First, adjusting for inflation, commercial office property values are 30% lower in 1999 than they were in 1899. Secondly, within any decade values often rise and fall by 20-50% in real terms. With these results, the long term historic return to New York commercial property must be mostly be comprised of yield with capital gains limited to general inflation. Other historical studies consistent with this conclusion are reviewed. JEL Classifications: R51, N92.
|Other titles||One hundred years of commercial real estate prices in Manhattan|
|Statement||[by] William C. Wheaton, Mark S. Baranski [and] Cesarina A. Templeton|
|Series||Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 08-02, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 08-02.|
|Contributions||Baranski, Mark S. (Mark Stephen), 1966-, Templeton, Cesarina A. (Cesarina Antoinette), 1971-, Massachusetts Institute of Technology. Dept. of Economics|
|The Physical Object|
|Pagination|| leaves :|
|Number of Pages||27|
the evidence on commercial property by examining years of commercial ofﬁce values in Manhattan; we create a repeat-sales price index with actual transactions data. We ﬁnd that since our ofﬁce index suggests values in Manhattan, when adjusted for . Years of Commercial Real Estate Prices in Manhattan Article in Real Estate Economics 37(1) March with Reads How we measure 'reads'. Download Years of Commercial Real Estate Prices in Manhattan book pdf free download link or read online here in PDF. Read online Years of Commercial Real Estate Prices in Manhattan book pdf free download link book now. All books are in clear . 3 Tom Nicholas, Anna Scherbina, Real Estate Prices During the Roaring Twenties and the Great Depression, Real Estate Economics, , 41, 2, Wiley Online Library; 4 Andrea M. Chegut, Piet M. A. Eichholtz, Paulo Rodrigues, The London Commercial Property Price Index, The Journal of Real Estate Finance and Economics, , 47, 4, CrossRef.
69–83 REAL ESTATE ECONOMICS Years of Commercial Real Estate Prices in Manhattan William C. Wheaton∗, Mark S. Baranski∗∗ and Cesarina A. Templeton∗∗∗ This article is able to put together a database of 86 repeat-sales transactions for office properties in lower and midtown Manhattan . Years of Commercial Real Estate Prices in Manhattan Real Estate Economics, Vol. 37, No. 1, pp. , Spring Number of pages: 15 Posted: 27 Apr Cited by: This article is able to put together a database of 86 repeat-sales transactions for office properties in lower and midtown Manhattan spanning the years from to Using this very limited database, decade-interval changes in real property. Draft:December10, yearsofCommercialRealEstatepricesin Manhattan WilliamC,Wheaton DepartmentofEconomics CenterforRealEstate EB,MIT Cambridge,Mass
Downloadable! This article is able to put together a database of 86 repeat‐sales transactions for office properties in lower and midtown Manhattan spanning the years from to Using this very limited database, decade‐interval changes in real property prices are estimated—with varying degrees of precision. Our conclusions are two fold. • Change Is The Constant In A Century of New York City Real Estate – pdf [Miller Samuel]• My Theory of Negative Milestones Sidebar/Appendix. Here’s a separate piece I also wrote during my DE research project (to clear my head after pouring through all the historical articles) which incorporates my “theory of negative milestones.” While researching the last years of New York. years of Commercial Real Estate prices in Manhattan William C, Wheaton Department of Economics Center for Real Estate EB, MIT Cambridge, Mass. [email protected] Mark S. Baranski Overland Development Group, LLC Boston, Mass. Cesarina A. Templeton Overland Realty Capital, LLC Boston, Mass. ABSTRACT This paper is able to put together a data base of 86 . Green Street's Commercial Property Price Index is a time series of unleveraged U.S. commercial property values that captures the prices at which commercial real estate transactions are currently being negotiated and contracted. Features that differentiate this index are its timeliness, its emphasis on high-quality properties, and its ability to capture changes in the aggregate value of the.