Foreigners Purchase One-Third of New York City Condos and 15 Percent of New York City Real Estate

According to an article posted on October 7, 2011 on Crain’s New York Business.com, fifteen percent (15%) of all residential sales in New York City were made by overseas-based buyers (most were all-cash deals).  The majority of the foreign investors were based in Russia, China, Brazil and Argentina.  Buyers from overseas presently account for one-third…