Foreign exchange: TRD ranks city’s biggest overseas buyers

From left:

From left: Zhang Xin, 1180 Sixth Avenue and Moise Safra

From the September issue: In recent months, New York City has surged ahead of its biggest global rivals, London and Tokyo, with more dollar volume in real estate investment than any other city in the world.

It’s not surprising that much of the capital rushing into New York is coming from foreign investors and often from sovereign wealth funds: state-controlled investment bodies responsible for allocating countries’ cash reserves. [more]

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