NY landlords who can't find buyers turn to borrowing instead

Washington

AT a time when commercial-property purchases have slowed to a trickle, Manhattan landlords who can't sell are still getting money out of their buildings - by turning to lenders.

A growing chasm between what buyers are willing to pay and what sellers think their properties are worth has put the brakes on deals.

In New York City, the largest US market for offices, apartments and other commercial buildings, transactions in the fir…