Wei Min mentioned as foreign buyer specialist in China’s Wealthy Buying New York Luxury Condominiums

Posted by Wei Min Tan on September 21, 2017

Publication:  New York Times

 

Summary:  This article by New York Times journalist Claire Wilson is one of the very first write ups about  wealthy buyers from China coming to Manhattan to purchase property.  Top brokers are interviewed regarding this new clientele from China.  It covers the types of property that Chinese buyers invest in (Condos), amenities they like (full service, swimming pool), style of buildings (usually new glass curtain buildings).

 

Wei Min’s comments in article:  Cash is the coin of the realm.  Brokers estimate that 50 percent to 75 percent of  transactions by Chinese in New York do not involve mortgages. Culturally, Asians are loan-averse, thinking that coming to the table with less than the asking price will reflect negatively on them, said Wei Min Tan, a principal of Castle Avenue Partners.

To circumvent the language barrier, the companies interviewed for this article have staff members who are Chinese speakers. Mr. Tan of the Castle Avenue Group speaks Cantonese, Mandarin and the Hokkien dialect.

“The quality of life is better,” Mr. Tan said. “Work hours are better, and there is a better family and work/life balance.”



Contact Weimin



641 Lexington Avenue,
22nd floor,
New York, NY 10022





641 Lexington Avenue,
22nd floor,
New York, NY 10022





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

CONTACT US
This error message is only visible to WordPress admins

Error: API requests are being delayed. New posts will not be retrieved.

There may be an issue with the Instagram access token that you are using. Your server might also be unable to connect to Instagram at this time.

Error: API requests are being delayed for this account. New posts will not be retrieved.

There may be an issue with the Instagram access token that you are using. Your server might also be unable to connect to Instagram at this time.