Marco? Portfolio! Private Equity Waits from the Real Estate Sidelines to Jump In (The New York Observer)

The vulture in angel’s wings is coming. Forgive us. “A vulture in angel’s wings” is how one broker describes private equity—all those investors with piles of money that lurk in the recessionary shadows of the commercial real estate marketplace, patiently waiting until the prey has ripened and the bottom has come … so that they can swoop down and ferociously devour once-priceless New York …