Updated On
08/28/08 at 10:33AM
NY doctors buck slow market
A rendering of the Fifth on the Park, which will have a marketing campaign directed towards doctors.
With layoffs and decreased bonuses on Wall Street this year, many luxury developments are seeing doctors fill in the gap in buyers left by the financial services industry. At the same time, brokers say they have seen medical office leasing increase around 15 percent, despite a general slowdown in leasing activity. As a result, banks have created loan products specifically for medical office leases, with longer terms of payoff and low down payment requirements.
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