The Real Deal New York

Posts Tagged ‘china’

  • Bringing Soho to China

    December 07, 2014 09:00AM
    The Diamond Hill development in Shenyang, China

    The Diamond Hill development in Shenyang, China

    The lust for New York City loft living knows no bounds. Now a new development is bringing a taste of Soho to Shenyang, a large industrial city of about 8 million in northeast China. [more]

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  • Renderings of residential towers along West 57th Street

    Renderings of residential towers along West 57th Street

    The Chinese real estate market continues to struggle, which may ultimately be a boon for New York City property owners. [more]

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  • From left: Yu Liang, Guo Ghuanchang and Wang Jianlin

    From left: Yu Liang, Guo Guangchang and Wang Jianlin

    The size of recent investments from Chinese firms and individuals in New York real estate has commanded headlines. Generally speaking, the properties being bought are familiar to those in the New York City property business. Those doing the buying, however, are less well known. [more]

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  • From left: the Jacob Javits Center and the corner of 38th Street and 11th Avenue

    From left: the Jacob Javits Center and the corner of 38th Street and 11th Avenue

    A new 380,000-square-foot tower backed by a mysterious Chinese investor is coming to Midtown Manhattan. [more]

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  • Asian insurance funds set to increase foreign real estate investment

    Asian insurance funds set to increase foreign real estate investment (Credit: Maurice Mayfield)

    In the coming years, Asian insurance funds are set to increase their spending on overseas real estate by $75 billion, and New York City could be a major benefactor. [more]

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  •  Yujiapu, a Chinese city modeled on Manhattan

    Yujiapu, a Chinese city modeled on Manhattan

    WEEKENDEDITION Canada already got its own Upper West Side, and now China is wrapping up a replica Manhattan. One problem: it’s a ghost town.  [more]

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  • From left: Renderings of 429 Kent Avenue, 610 Lexington Avenue and Atlantic Yards (Credit: SHoP Architects)

    From left: Renderings of 429 Kent Avenue, 610 Lexington Avenue and Atlantic Yards (Credit: SHoP Architects)

    While buyers from the world’s most populous country are flocking to the New York City real estate market, Chinese developers are increasingly getting into the game. [more]

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  • china

    From left: China Vanke CEO Yu Liang and Fosun chair Guo Guangchang

    In a trend that can be seen both locally and nationally, wealthy citizens in China are receiving the vast majority of  investor visas from the U.S. government.

    About 80 percent of the recipients of the visas under the EB-5  program are from China. That program allows foreign nationals to receive residency status after they invest $1 million, or $500,000 in an area with high unemployment. The number of U.S. visas issued to Chinese investors in this program reached 6,895 in 2013, up from less than 2,500 in 2011. [more]

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  • From left: NYC skyline and a computer keyboard with a Chinese flag

    From left: NYC skyline and a computer keyboard with a Chinese flag

    Chinese investors have reportedly claimed the title away from Russia as top foreign buyers of New York real estate, according to a new report. But while the reversal is due in part to uncertainty caused by Russia’s actions in Ukraine — as well as relatively low property prices in New York compared to major cities in China — industry watchers cite other reasons for the surge in purchases from the People’s Republic. [more]

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  • vanke

    From left: Yu Liang, Aby Rosen and rendering of 610 Lexington Avenue

    Real estate investor Aby Rosen has gained a new partner in China Vanke, the largest publicly traded developer in China, for his proposed 61-story condominium-and-hotel tower at 610 Lexington Avenue. [more]

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  • plaza-construction

    Plaza’s Steven Fisher, China Construction America’s Ning Yuan

    Real estate investment firm Fisher Brothers is selling Plaza Construction to the U.S. arm of leading Chinese construction company China State Construction Engineering.

    Fisher Brothers has owned Plaza — which provides constructing management and consulting services in New York, Washington, D.C., Florida and California — since it was formed 27 years ago. After the deal goes through, the seller hopes to focus more on development. While China Construction America agreed to make the purchase, the Committee on Foreign Investment in the U.S. needs to give final approval. [more]

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  • HanjieWandaSquare1-thumb

    Hanjie Wanda Square in China

    WEEKENDEDITION The Dutch firm UNStudio has unveiled plans to plaster a Chinese shopping center with 42,333 steel spheres. [more]

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  • Nikki Field

    As Asiatic wealth and influence grows throughout New York’s real estate industry, brokers are increasingly mastering Mandarin, according to the New York Times. Nikki Field and Kevin Brown of Sotheby’s International Realty now travel to mainland China four times a year in order to court rich investors looking to store millions in New York properties.

    Chinese buyers are spending large sums of money on exclusive properties like Time Warner Center, 15 Central Park West and One57. [more]

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  • Steven Schwarzman, Blackstone's CEO

    The Chinese government will invest $500 million with a real estate private equity fund managed by the Blackstone Group, the Wall Street Journal reported. China’s State Administration of Foreign Exchange (SAFE) is looking to earn larger returns, the paper said, and had been shopping for private equity investments amid the low-yields offered by U.S. treasury bonds, in which SAFE is highly invested.

    Blackstone is the largest private equity fund in the world, with $48 billion under management. [more]

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  • The Ritz-Carlton Residences Palm Beach

    From the South Florida website: New York and South Florida’s residential market was buoyed by an influx of foreigners last year. But a new player could be emerging from the Far East: China. Generally, Chinese buyers like to purchase where there is already an entrenched Chinese community, with Chinese people and Chinese restaurants — something which New York has, but South Florida lacks right now, said South Florida-based Coldwell Banker Realtor Jeanne Nicastri. But they’re also influenced by their friends, she said, and the more Chinese buyers that decide to make the move, the more that could join them. “Although [South Florida is] a long way from China, we have become very trendy, and we’re on the trendy map,” Nicastri said. “Since they’re already involved in New York, and Miami is an offshoot of New York, that’s what’s driving them to come here.” [more]

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  • alternate<br /></a>text
    From left: Tishman Speyer CEO Jerry Speyer, Hines Interests Chairman Gerald Hines and Simon Property Group CEO David Simon
    As commercial construction remains stagnant in America, several high-profile American developers have turned to China for new projects, including several with notable ties to New York.

    But for all the obstacles these developers are accustomed to encountering in the city, according to the New York Times there are even more hurdles to clear in China.

    In addition to the obvious language and cultural barriers — for example, the Chinese do not consider a contract a binding agreement, and disputes with tenants are better settled over dinner than in a court room — unpredictable policy, layers of bureaucracy and the necessity of building local relationships make the prospect of development difficult. … [more]

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  • alternate<br /></a>text
    Trump’s new book
    [Updated 11:55 a.m. on Dec. 6, 2011] The Donald has a lot to say in his latest book, out today. In between moderating debates for Fox News, taking gold bars as a deposit at 40 Wall Street, mulling a run for office and meeting with Republican presidential nominee hopefuls (as he did today with Newt Gingrich), Trump penned another political book: “Time to Get Tough: Making America #1 Again.”

    In the latest advice volume, the developer of real estate from Israel to Florida, suggests that America’s problems are the result of President Barack Obama not loving America enough, that the only way to fix the deficit is to take Iraqi oil by force, and that Trump himself is worth a total of $7 billion, a disputed figure. … [more]

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  • Conde Nast close to signing 1 WTC deal

    February 04, 2011 03:06PM

    Publishing giant Conde Nast is likely to finalize its 1 million-square-foot lease at One World Trade Center by March, developer Douglas Durst told Crain’s today. The Durst Organization has a deal with the Port Authority of New York & New Jersey to buy a $100 million stake in the tower, and scored a major coup last year when the magazine behemoth agreed to relocate from 4 Times Square, which Durst also owns. The only tenant to actually sign a lease at the 2.6 million-square-foot project thus far is China’s Vantone Industrial, but Durst said two government agencies are also in negotiations to lease a combined 1 million square feet. … [more]

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  • alternate text
    Architect Dai Haifei and his egg home

    While many 20-somethings return to the nest after college, a 24-year-old Beijing architect went a different route: he moved into the egg — an egg-like studio apartment, that is, according to Housing Watch. Dai Haifei, who bemoaned the high cost of living in the Chinese metropolis, designed his six-foot-high abode himself, complete with a green roof that sprouts grass. The egg home, which cost $969 to build and $538 to transport to the city sidewalk, has no kitchen and no bathroom, but does include a small bed and modest furnishings. … [more]

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  • China’s government news agency, Xinhua, is planning a move to the
    top floor of 1540 Broadway, between 45th and 46th streets, from its
    current office in Woodside, Queens, according to the Wall Street
    Journal. The relocation would also be an expansion for the agency,
    which often serves as a propaganda outlet for the government and which
    has recently been making efforts to step up its global coverage. Xinhua
    would have a 20-year lease on the space that would become its North
    American headquarters. Although it was unclear what the agency would
    pay in rent, rates in Times Square office buildings are around $67 per
    square foot, according to Reis. Xinhua wouldn’t be the only major new
    tenant for the 44-story tower: a massive Forever 21 store just opened
    in the retail space downstairs. The office portion is owned by a
    private equity fund run by CBRE Investors, a CB Richard Ellis
    affiliate, which purchased it for $355 million from Deutsche Bank AG
    last year. [WSJ]

    [more]

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