The Real Deal New York

Posts Tagged ‘russian investments’

  • With Russian billionaire Mikhail Prokhorov reportedly in talks to purchase the New Jersey Nets — and subsequently help finance Bruce Ratner’s massive Atlantic Yards development — the owners of high-end Brooklyn condos are vying for his attention. The managers of two properties, one the famous $25 million Clock Tower penthouse at One Main Street in Dumbo and the other a $7.5 million Brooklyn Heights penthouse at One Brooklyn Bridge Park, got in touch with Prokhorov’s representatives this week to pitch units to him for purchase, the New York Post reported. The developers of both properties referenced the Russian oligarch’s love of parties as a main selling point for their respective penthouses. “You don’t get any better than a 1,000-square-foot roof deck … to hold parties,” Ian Levine, COO of RAL Companies, which manages the 4,638-square-foot One Brooklyn Bridge Park spot, said. But David Walentas, developer for the Clock Tower spot, said that his place is unrivaled in its party appeal. “The second I heard Prokhorov was buying the Nets, I knew this space was made for him because he’s known for throwing some incredible parties,” Walentas said. There is no word yet on whether Prokhorov has picked a favorite, or if he’s even planning to move to Brooklyn.

  • More Russians pursue NYC real estate

    October 21, 2009 03:56PM

    More Russian property buyers are looking for New York City real estate, according to an analysis of Russian investment trends by the Moscow Times. High-profile investors, such as Mikhail Prokhorov, who has been pursuing a $200 million deal with Atlantic Yards developer Bruce Ratner, have reportedly ramped up interest among Russian real estate buyers. The trend has caught some brokers, like Wilbur Gonzalez of Brown Harris Stevens, by surprise. “I expected the Russians to sit out 2009 and 2010, licking their wounds,” Gonzalez said. While some expect real estate prices in New York City to fall further, industry experts say that Russians investors are drawn in by the weak dollar and are viewing New York real estate for its long-term value.