A record number of foreign investors are snapping up New York City residential and commercial real estate, attracted by favorable exchange rates and the city’s appreciating values. Irish investors are especially keen on New York, as evidenced by Dublin-based Keane Mahony Smith Commercial’s recent purchase of thousands of residential units in Manhattan. And there has also been ramped-up Middle Eastern and Asian investor interest in properties. “Within the past six months, we have been introduced by investment brokers to private families from Singapore, South Korea, and a Middle Eastern royal family,” said Norman Sturner, a managing member of Murray Hill Properties. more [Sun]
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