NYC – Large sums of money from far-flung lands have been rushing into the New York City real estate scene. We’ve been witnessing this investment explosion occurring throughout the region served by us here at Skyline Properties.
Recently, this market just attracted the country’s most massive real estate investment from Chinese sources. As this article published by Insurance Journal reports, the $1.95 billion being spent on the purchase of New York’s Waldorf Astoria hotel is the largest sum paid for American real estate by Chinese investors.
The Waldorf Astoria is an architectural icon of New York City completed in the Art Deco style, and in fact, the building is considered a landmark for that style of construction. Situated on Park Avenue in the middle of Manhattan, this hotel includes 1,232 rooms and has captured the imaginations of city tourists for many decades.
This and other recent real estate purchases have supported the idea that there is a lot of strength and stability to the market in New York City, compared with other regions of the world. $1.95 billion isn’t simply the largest real estate investment amount from Chinese sources; it’s also the most anyone has ever paid for a single American hotel. Other large investments, such as the $725 million paid by Fosun International Ltd. for 1 Chase Manhattan Plaza, the former headquarters of Chase Manhattan Bank.
The wealthy are well aware that investment in New York City real estate is one of the safer investments that could be made right now. Luxury developments have been popping up all over the city. If you’re ready to stake your real estate investment claim, Skyline Properties will help you navigate the NYC real estate market and satisfy your most exacting demands for property options. Call us to discuss options that are available for your perusal today.