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

Property investors are staying on the sidelines amid concern that rising interest rates will hurt values that have surged as much as 85 per cent in big cities such as New York.


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...

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