South Americans skip Miami for NYC
August 12, 2008 04:26PM By Lisa Abramowicz
Gabriel Bedoya of Corcoran
From the August issue: Many South Americans used to head straight to Miami as a place to plunk down investment money for an apartment. But now they are increasingly shifting their interest northward, because the Miami market is in shambles, and the weak dollar is presenting them with opportunities here that seemed out of reach before. The uptick of inquiries started late last year. Gabriel Bedoya, a vice president at Corcoran, said he used to hear from very few South American buyers. But in late 2007, he began receiving two to three calls a week from Brazilians, Chileans, Argentines, Colombians and other South Americans interested in buying apartments in the city. more
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