Negative interest rates will drive purchases March 07, 2017 04:30PM By Rich Bockmann TheRealDeal.Com Bill Shanahan China supplanted Canada for the first time last year as the most active foreign investor in U.S. real estate. But so far this year, some Chinese institutional investors such as insurance companies have been silent, and the yuan’s appreciation against the […]
World’s Ultra Wealthy: Chinese buyers – Victor Jung
Chinese Buyers continue to dominate market. No EB-5 slowdown: Victor Jung China minting 100K new millionaires each year: Knight Frank March 02, 2017 03:10PM – TheRealDeal.com By E.B. Solomont and Hiten Samtani Wealth Report 2017 (Credit: Knight Frank, click to enlarge) The number of ultra-high net worth individuals — those with assets of $30 million or […]
Chelsea residents file lawsuit to halt “monstrous” condo – Victor Jung
Community group claims city may have improperly approved the 11-story West 16th St. project March 02, 2017 10:00AM 124 West 16th Street rendering (Credit: Einhorn Development Group via DNAinfo) A neighborhood community group is suing the developer behind a planned 11-story residential building on West 16th street, claiming its plans may violate city codes and […]
London no longer calling: home prices fall post-Brexit – Victor Jung
Political uncertainty, new tax cool demand March 02, 2017 10:30AM – THE REALDEAL.com Homes in the Royal Borough of Kensington and Chelsea London home prices are falling in the wake of Britain’s vote to leave the European Union and a new tax on property sales. The share of sellers who slashed asking priced rose in […]
EB-5 will thrive under Trump, experts say – Victor Jung
From left: Nicholas Mastroianni, Scott Alper, Connor Chen, Charles Gargano, Former New York Gov. George Pataki, Phoebe Yuan, Jianlen and Hiten Samtani The legislative fate of EB-5 may still be up in the air, but champions of the controversial visa program are not worried — they say they have a powerful friend on their side. […]
Cuomo approves $300M for NYC affordable housing projects – Victor Jung
Gov. Andrew Cuomo signed off on granting the city another $300 million in bonding authority on Friday, providing a considerable bump in funds needed to construct affordable housing. With this latest allowance, the state has granted the city $771 million in tax exempt bond capacity this year — an amount Cuomo’s office touted as the highest […]
Here’s what $1M worth of prime real estate looks like in the world’s top cities: Knight Frank
In Hong Kong, it buys you a guest bath, but in New York … March 03, 2016 12:32PM By Hiten Samtani What does $1M get you in prime real estate across the globe? (Click to see full-size image) What does $1 million get you in luxury real estate? New Yorkers know that the answer, at […]
Take a look inside this UES townhouse asking $85M: VIDEO
Developer Keith Rubenstein’s lavish home has Hermès leather walls and more March 04, 2016 05:15PM By Alistair Gardiner Is any home worth $85 million? That’s debatable, but this townhouse at 8 East 62nd Street, which is listed for that amount, certainly features every lavish detail you can possibly imagine (Hermès leather walls anyone?) –plus a whole lot more. Watch our […]
Stream of Foreign Wealth Flows to Elite New York Real Estate – Victor Jung
On the 74th floor of the Time Warner Center, Condominium 74B was purchased in 2010 for $15.65 million by a secretive entity called 25CC ST74B L.L.C. It traces to the family of Vitaly Malkin, a former Russian senator and banker who was barred from entering Canada because of suspected connections to organized crime. Last fall, […]
SVHO and Bizzi Partners at 125 Greenwich Street to house 275 Units – Victor Jung
Michael Shvo and a rendering of 125 Greenwich Street (Credit: ArX Solutions) Michael Shvo, Howard Lorber’s New Valley and Bizzi & Partners’ soaring condominium at 125 Greenwich Street will house 275 units – nearly 150 more than early renderings for the Financial District tower indicated. The Rafael Vinoly-designed tower will rise 91 stories with 275 […]
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