Sotheby’s International Realty’s Nikki Field believes that “wealth managers hold the keys to Chinese money,” and making a connection with them allows New York brokers access to a huge pool of new clients.
In a one-on-one conversation with The Real Deal’s managing web editor Hiten Samtani at TRD’s New Development Showcase & Forum May 12, Field said that “successful Chinese have a very solid, very trusting relationship with their banker or wealth manager.” she added. Forming a relationship with these managers, Field continued, gave her credibility with Chinese buyers and allowed her to strike deals.
Field also riffed on the ultraluxury market in Manhattan, where a $100.5 million apartment deal is officially in the books and listings are now asking as high as $150 million.
“How does that work?” Samtani asked, to which Field replied: “We’re scratching our heads over these numbers as well.” Prestige matters a ton to foreign buyers, and they tend to make purchases where others of their super-rich flock have, she said.
“If another hugely successful captain of the universe has bought in that building, that may mean that it’s a good opportunity for you as well,” she said. — TRD