Europeans seek condo deals in NYC

Europeans on shopping sprees in New York City are buying more than
holiday gifts. Taking advantage of the weak dollar, they are buying
apartments. “The exchange rate is like a gift from God for Europeans,”
said Danielle Grossenbacher, the broker for Coldwell Banker Hunt
Kennedy who showed the Millers around. “Everybody is feeling they have
an opportunity to purchase a piece of Manhattan.” The number of foreign
buyers has doubled in two years, and they have bought one-third of all
new condos in the last 18 months, according to research firm Radar
Logic.