Chinese investors seeking NYC real estate investments in the United States are quickly becoming the newest wave of players in the New York real estate market. As recently discussed in an article dated September 12, 2015 and published on The Real Deal website, New York real estate has great appeal to Chinese investors.
The Real Deal recently moderated a forum in Shanghai to discuss New York real estate investing and the benefits and challenges present for foreign investors. Among the topics discussed were the lack of extreme cyclical demand in New York compared to other major cities and issues relating to foreign investor obtaining financing.
One of the participants was Andrew Heiberger, founder, CEO and co-chairman of TOWN Real Estate brokerage in New York City. Town Real Estate has rapidly become a leader in luxury real estate brokering in New York. Representing both buyers and sellers, TOWN Real Estate has assembled a team of staff and agents who have been selected due to their particular expertise and knowledge of the New York real estate market. Although the firm was only started in 2010, it has grown to become a leader in that time due to the vision of Mr. Heiberger and the energy which the staff and agents bring to work each day. Because of the vision and energy present at TOWN, it has been named as one of the 50 best places to work in New York City.
As part of the forum, Mr. Heiberger and other participants discussed certain advantages of New York over other places for real estate investors. One advantage discussed is the transparency and honesty in real estate transactions which is enforced by the State of New York. This is welcome since transactions in China are quite often opaque and potential problems are concealed. The forum ended with each participant describing their “dream” real estate they would like to purchase.