How cloudy was that crystal ball?

clipped from therealdeal.com How cloudy was that crystal ball? The Real Deal looks at how accurate experts were in their predictions for 2009 By Amy Tennery Don Capoccia managing principal, BFC Partners: "Those properties that are in fringe neighborhoods are not going to do as well [in the downturn]." Capoccia's prediction proved mostly true. In Manhattan, Harlem condos were "in deep doo-doo" by the middle of the year, according to veteran Harlem broker Willie Suggs. The southern part of Harlem saw its average price per square foot on residential properties drop by approximately $100 to $200, from $800 during the pre-recession high, according to Stephen Kliegerman, executive director of development marketing at Halstead Property. The neighborhood was home to headline-grabbing bad news in 2009, with Riverton Apartments ranking as the biggest new commercial mortgage delinquency in the U.S. in November, and the famed Bailey Mansion selling at 90 percent below its original asking price.