The Real Deal New York

Brexit backlash: A boon for NY?

The political upheaval could shift the balance of power in the real estate rivalry between London and NYC
By E.B. Solomont | July 20, 2016 09:00AM

Paula del Nunzio and Petro

Paula del Nunzio and Petro Zinkovetsky

From the July issue: Kensington or the Upper East Side? Canary Wharf or Wall Street? Islington or Brooklyn Heights? The modern-day real estate rivalry between London and New York has been going strong for decades, but last month’s “Brexit” vote may have shaken up the game.

Even before Britain shocked the global markets and voted to break off from the European Union, Manhattan residential brokers and real estate lawyers were getting calls from international buyers looking to move investments to New York and away from London.

Midtown-based real estate attorney Petro Zinkovetsky received a phone call from a Russian client looking to do just that. [more]