Wei Min interviewed in How Foreign Buyers Affect Local Real Estate
Posted by Wei Min Tan on October 30, 2017
Publication: DNA Info
Summary: Wei Min Tan interviewed about how foreign buyers affect the local Manhattan property market. Article covers topics like how foreigners are helping drive down price of luxury rentals and how some NYC developers are marketing projects in Asia before marketing the project locally in New York.
Wei Min’s comments in article: The company Vanke is doing a joint venture with Aby Rosen for a Midtown condo at 100 E. 53rd St., and XIN Development is building the Oosten in South Williamsburg, according to Wei Min Tan, a broker with Rutenberg.
Other new projects are marketing in China, Malaysia and Singapore before advertising to locals, including Extell Development’s 71-story tower — with homes expected to cost between $1 and $3 million — rising over a former Pathmark site near the East River on the Lower East Side.