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Landlords cash out amid Manhattan property boom

Monday, August 24, 2015 - 05:50
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There's so much buyer demand that in some situations it's more opportune for landlords to sell rather than follow through on plans for redevelopment or filling buildings with new tenants.

New York 

MANHATTAN property owners are cashing out ahead of schedule.

With New York real estate values and rents surging, owners of commercial properties acquired as recently as a year ago are already seeking buyers. In the case of one Midtown site, the developer scrapped