Strong Canadian investment in the Manhattan commercial property market is expected to continue in 2016 after quadrupling and hitting a record level in 2015. Canadians accounted for almost a third of the $25.6 billion in foreign capital that poured into Manhattan commercial properties last year, with investment swelling to $8.3 billion from $1.97 billion a year earlier, according to data from Real Capital Analytics.
Rising purchase prices and a weaker Canadian dollar, which fell more than 16 percent against the U.S. dollar in 2015, have not discouraged investors who see the value of steady returns from rising Manhattan rents.