Tuesday, January 13, 2015

The Chinese appetite for Brooklyn real estate has already begun

If a Chinese property consultancy is pursuing the unauthorized sale of yet-unbuilt Atlantic Yards/Pacific Park condos, as I reported last month, well, they know their market.

Consider yesterday's WNYC report, The Chinese Guide to Buying Real Estate in New York, which describes how The Oosten in Williamsburg is "the first large building erected by a Chinese company in America, without a local partner. And buyers from China have already signed on, though the building's not ready.

Developer Xinyuan, which mostly builds in China, is part of a trend in which companies want to invest overseas, where real estate is seen as a safe harbor.

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