The Real Deal Miami

Sotheby’s Nikki Field on breaking into Chinese market: VIDEO

At TRD Forum, top broker talks shop and discusses the ultraluxury Manhattan market

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.

From the New York website: 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