The Real Deal New York

6 of the best quotes from NYT’s Time Warner Center investigation

Elizabeth Sample, Raphael De Niro and others weigh in on the secrecy in Manhattan real estate
February 09, 2015 05:15PM

The New York Times’ yearlong investigation into clandestine foreign buyers at the Related Cos. Time Warner Center resulted in a front-page story on how some of the world’s wealthiest people get their hands on trophy Manhattan real estate. In case you don’t have the time to read the 8,000-word magnum opus, we’ve pulled some of our favorite bits. [NYT]Hiten Samtani

  • Niv21

    NYT times is definitely on some witch hunt. They must feel this is the biggest story to report to boost sales. NYC is the best place to invest in Real Estate so no surprises there. NYC is no different to London, Paris, Zurich and Hong Kong attracting these “clandestine buyers”.
    But hey, since the NYT is at it, I would be interested with who is behind those LLCs snatching up real estate in prime sections of the country such as Miami, Greenwich CT, LA, DC and the Hamptons etc. etc.

    • Char4Dew

      I find your reply to be one of the many mindsets that make the industry corrupt.

  • jmb13

    Why does this matter? This happens all the time… So they were arrested for fraud.. How many AMERICANS in NYC, living around the park, are most likely committing fraud right now? .. A bunch!

    • Niv21

      Agreed! This garbage is anti foreigner shet. I’m sure there is many American funny money snatching up real estate in other countries. Madoff owned a few.

  • Tyrannosaurus Rex

    I hate to say it, but this article builds a case for buying into a coop where everyone is carefully screened before they’re allowed into the building. In coops, it’s comforting to know that shady characters won’t even bother applying to get in.

    • Char4Dew

      We need more Co-ops :)