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Foreign Buyers Snapping Up Luxury Manhattan Apartmentsi
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July 03, 2014 2:19 AM
Foreign buyers of apartments in new condominium towers are flooding into New York City, where even the highest-end real estate is a relative bargain compared to other world capitals. Canadian, Chinese and Russian buyers make up the bulk of these foreign investors in Manhattan’s prime neighborhoods, some paying in the tens of millions of dollars or more for apartments sight unseen. VOA’s Carolyn Weaver has a report.

Foreign Buyers Snapping Up Luxury Manhattan Apartments

Published July 02, 2014

Foreign buyers of apartments in new condominium towers are flooding into New York City, where even the highest-end real estate is a relative bargain compared to other world capitals. Canadian, Chinese and Russian buyers make up the bulk of these foreign investors in Manhattan’s prime neighborhoods, some paying in the tens of millions of dollars or more for apartments sight unseen. VOA’s Carolyn Weaver has a report.


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by: 1worldnow from: Earth
July 06, 2014 10:25 PM
These are the people we need to hear from! People right there, on the spot, living what the reporter is reporting. Afghanistan reports, no one from Afg will comment. Iraq reports, no one from Iraq will comment. But here is a NY story, and a NY'er is commenting. FINALLY! Hey Mort, glad you chimed in. People like Tech Bro must really irritate you, as it does me! I am a southern rebel, proud southerner, and Atlanta (Hotlanta, hehe) is the NYC of the South! Did 4 tours in Iraq, and out of 2 of them, the first thing I did when I got home was spend a couple of weeks in NYC! People thought I was nutz for spending so much time in Iraq, just to come home and go straight to NYC. Had to stay at the Naval base on SI, because there is no decent hotel in NYC that is affordable!!!!!!!! We hear ya about how the poor and middle class are being pushed around. Our buddy, our friend Obama sure has let us all know what he truly thinks about the middle-class and poor. Funny is that I really can't stand big cities at all! Love NYC, just something about your city is captivating. By the way, Tech Bro, you say that about NYC, then you say that about America. So zip it!

by: Mort Young from: New York, NY
July 06, 2014 10:01 AM
The most stupid factor in selling expensive apartments is the tax breaks the billionaire-only buildings have been granted. Next in place is the function of these structures as hide-outs for those who fear arrest for grand theft in their native countries. Corruption obviously counts if this is how it's done by the elite.
Those who have been living in New York on average wages are being driven out; where they can go is a growing mystery as rents increase, reflecting the "investments" in empty condos by the wealthiest people on earth. Of course, not all of them are corrupt. But corrupt or honest, they have squeezed many middle class and outright poor tenants out of their homes.

by: Tech_Bro
July 03, 2014 2:04 PM
Really, NY NY? They can have it.