NY Real Estate Forecast

MYFOXNY.COM - If you walk down Madison Avenue you will see several open retails spaces.

Commercial real estate woes are expected to continue in 2010.

Real estate attorney Edward Mermelstein represents foreign investors. He says foreign interest in Manhattan real estate remains high.

The residential market's future is in question. Jill Gardiner, managing editor of  “The Real Deal”, a real estate magazine, says prices for Manhattan apartments have come down 20 to 25 percent off of recent highs.

She says Wall Street bonuses will play a role in the direction the market will take in 2010.