My commercial appraisal partner John Cicero of [Miller Cicero](http://www.millercicero.com) has been busy lately. He just completed a new market report on New York City income properties. We are really excited about the results. [Here’s what he has to say about it](http://soapbox.millersamuelv2.wpenginepowered.com/?p=261):
>This week the first [Massey Knakal New York City Income Property Market Report [pdf]](http://www.millercicero.com/pdf/MK1H06.pdf) was released. This is a _first of its kind study_ that I researched and authored on behalf of [Massey Knakal](http://www.masseyknakal.com), one of the most active investment sales brokerage firms in New York.
[Massey Knakal](http://www.masseyknakal.com) is excited about it too. They are distributing about 300,000 copies of it over the next several months. [Massey Knakal New York City Income Property Market Report [pdf]](http://www.millercicero.com/pdf/MK1H06.pdf) [Report Methodology [Miller Cicero]](http://millercicero.com/mkreports/methodology/index.shtml)One Comment
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To this amateur, the decrease in cap rates since ’01 indicates investors are counting on appreciation, or the possibility of a condo conversion, and not income in the purchase decision.