Meanwhile, much of similar real estate is located in New York. According to Real Capital Analytics, the owners of the building at 450 West 33rd Street in Manhattan have to repay some $1.2 billion to their creditors by the spring of next year. Owners of another skyscraper at 660 Madison Avenue are also experiencing financial difficulties. In total, owners of 268 real estate properties worth $12 billion are balancing on the edge of bankruptcy in the US financial capital.

“The current situation is much worse than we expected,” says Robert M. White Jr, President of Real Capital Analytics. Meanwhile, the expert points out that many difficulties had not been visible before September of this year, when the financial market was shaken by a number of bankruptcies on the scale of the Lehman Brothers collapse.

Meanwhile, this report is the first of its kind published during the crisis. In assessing distressed real estate, analysts have used such indicators as current repayments of mortgage loans and co-owner construction loans, unsecuritized loans, etc. Experts are warning that owners of some 1,000 commercial properties may go bankrupt now. Meanwhile, some 200 buildings have already changed hands after being foreclosed by creditors. Against this backdrop, commercial real estate worth $21.2 billion is presently at one of the three bankruptcy stages in the USA.

At the same time, another 3,700 commercial real estate properties worth $80.9 billion are presently on the verge of filing for bankruptcy. Among those, $40 billion worth of real estate belongs to owners experiencing serious financial difficulties, while another $26 billion has been accumulated in buildings whose owners will face difficulties repaying loans next year.