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A U.S. Federal Reserve Beige Book report on the second district of New York (which includes New York City, Westchester and Fairfield counties, Rochester, and other metro areas in upstate New York) showed that commercial real estate markets remained steady in the first quarter of 2012—demonstrating increased loan demand and the most widespread declines in delinquency rates in several years, particularly in the New York City office market, where rents continue to rise.