New York Commercial Real Estate 6 1/4 cents on the dollar from peak
CR has a post about someone buying some commercial real estate in New York for $100 /sq ft.
Not having any idea what the New York commercial real estate market has been like, I did a search and found this article, where commercial real estate sold for $1600 /sq ft. The article does say that was a record price.
So, looks like tax payers got screwed again as the building sold was the AIG building. Amazing they can't sell for a reasonable price and return some of tax payer's money to them.