The conversation between human and AI assistant.
What is the average cap rate for commercial real estate in New York City?
That makes sense. Do different types of commercial real estate have different cap rates in New York City?
Yes, different types of commercial real estate tend to have different cap rates. For example, retail properties tend to have higher cap rates than office or apartment buildings, as they carry greater risk due to fluctuations in consumer spending. Industrial properties, on the other hand, tend to have lower cap rates due to their stability and reliable long-term tenants.