Summary List PlacementManhattan is no longer the biggest hotspot for foreign investors snapping up commercial real estate in the US, according to a new report by Real Capital Analytics (RCA). This is the first time Manhattan hasn't topped the list since the global financial crisis in 2009, it said. The borough has been dethroned by Seattle, after investment in New York plummeted over the past year, per RCA data, first reported by Bloomberg. RCA said that cross-border acquisitions of commercial real estate in Manhattan fell by nearly 80% to just over $2 billion in the year to March 2021.