Seems like BGCP is in a sweet spot with respect to real estate.
"Tenant demand for Manhattan apartments drove the median rent in the first quarter up 7.1 percent from a year earlier to $3,100 a month, the largest annual gain since 2007"
For a company that got into the real estate broker market on the cheap, with some really interesting reach, they are in a nice position to take advantage.
Obviously the above is just one city, and the recent Case-Shiller index continued to suggest a bouncing bottom, but real time chatter suggests there are healthy signs across the country with south Florida doing well, along with Arizona.
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