Year in Real Estate
By almost every observable metric, the American banking system will enter 2013 with its strongest balance sheet position since before the financial crisis. Marginally higher revenues and shrinking loss provisions have pushed industry-wide net income to its best levels in six years. The improvement is significantly attributable to gains on the sales of assets and a general rise in non-interest income. It is also broad-based. More than half of all institutions reported higher net income in the third quarter while only one in 10 reported a net loss, the smallest share since early 2007.
The city’s aging population, a drive for state-of-the-art facilities and strong hiring across the health care industry prompted unprecedented growth in leasing activity in the health care sector across the five boroughs in 2012.
Memorial Sloan-Kettering, Mt. Sinai, Montefiore Hospital and Inventa Health were among the dozens of hospitals and medical companies to announce bold new initiatives to expand their footprints in the city in 2012, and those developments are only a sign of what’s to come, brokers and analysts predict.
Prior to the November elections, all meaningful efforts to address our looming fiscal problems were put on hold by legislators until the outcome was known. Well, we now know the outcome, and it’s not that much different than pre-election, as far as the balance of power goes.
So lawmakers return to the nation’s capital knowing Read More