Chinese Buyers In Manhattan’s Condo Market

Posted by Wei Min Tan on October 30, 2017

Publication:  Commercial Property Executive


Summary:  Wei Min Tan interviewed on foreign buyers from Asian coming to invest in Manhattan property.


Wei Min’s comments in article:  

While Manhattan remains the crown jewel of real estate investment worldwide, not everyone can afford the pricey luxury.

To some affluent foreigners, however, the Big Apple is still a bargain compared to some other cities, especially the Chinese, who have been buying up New York condominiums in larger numbers the past three years, according to Wei Min Tan, a broker at Manhattan-based Rutenberg Realty, who specializes in Chinese and Asian buyers.

“Traditionally (Chinese buyers) have been going to California, just because its closer, but now it’s natural for them to come to New York, because it’s a much stronger brand,” he told Commercial Property Executive. “For high-net worth individuals who want to get a piece of the most blue-chip cities, it’s always New York or London, but London is a lot more expensive than New York.”

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About Wei Min

  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

Work With Wei Min