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NY commercial property market goes cold

Sales of office towers, hotels, stores and other buildings are forecast to fall as much as 30% this year

Buyers and sellers in Manhattan are sitting out deals as the slump in oil prices, China's slowing economy, an uptick in borrowing costs and a volatile stock market give landlords pause.

New York

DEALS for a piece of New York's iconic skyline are drying up.

About US$14 billion of commercial real estate changed hands in the biggest US property market in the first three months of the year, the lowest tally since the third quarter of 2014, data from Cushman &

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