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Article: RE recovery: it's all in the bank. (real estate industry) (Review and Forecast, Section I)
- Article from:
- Real Estate Weekly
- Article date:
- June 24, 1992
- Author:
CopyrightCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The two essential ingredients of our industry's recovery are a long-awaited surge of economic growth and the return of lending institutions a financiers of real property ventures. These factors are intertwined. To revive New York's economy, regulators must loosen their excessively tight grasp on lending institutions, and lenders should give sound properties the financing they merit.
I know an owner who has two tenants ready to sign leases for sizable blocks of office space. Why is he complaining these days? Because the bank holding the mortgage on that building won't release funds for tenant improvement work. The deal is so near, but yet so far.
I've ...