NEW YORK—Mainland Chinese investment in New York City real estate is unlikely to slow down despite concerns over China’s turbulent economic and political situation, according to industry experts who work with Chinese buyers.
Interest in luxury tower apartments, as well as larger commercial real estate opportunities, is likely to even increase as China’s millionaires seek safe investments and higher returns in the United States.
Chinese buyers have become the most aggressive foreign investors in New York City, surpassing Russians in volume and mass, according to Russian-American real estate attorney Edward Mermelstein, partner at New York-based Rheem Bell & Mermelstein, LLP, a firm specializing in high net-worth foreign individual and corporate investments in the United States.
