search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aTony Park and Elad Dror take a gamble on Koreatown office-to-resi conversionTony Park and Elad Dror take a gamble on Koreatown office-to-resi conversionEvictions surge at Hialeah’s luxury apartment projects Shoma Village, Pura Vida and ManorEvictions surge at Hialeah’s luxury apartment projects Shoma Village, Pura Vida and ManorHow NYC fits into the broker commission battleHow NYC fits into the broker commission battle
New York

Will the drop in gas prices change foreign investors’ buying habits?

Many wonder if investors from oil-rich countries will continue to pour money into NYC real estate

Mikhail Prokhorov
Mikhail Prokhorov

From the February issue: When oil prices drop — and anyone who has read a newspaper recently or gone to the gas station to fill up their tank knows they are at rock bottom — Americans get giddy. It’s also a source of political pride as President Barack Obama made clear in his State of the Union address last month. “Thanks to lower gas prices and higher fuel standards, the typical family this year should save $750 at the pump,” he told the nation.

Sign Up for the undefined Newsletter

But the effect of lower oil prices is a little more nuanced when it comes to New York City real estate. [more]