With Europe’s debt crisis mounting, foreign interest in New York’s ultra-luxury real estate is increasing yet again. Russian billionaire Dmitry Rybolovlev’s $88 million purchase of a 15 Central Park West penthouse is now the stuff of Manhattan real estate legend, while a Chinese buyer reportedly purchased four separate units at Extell Development’s One57 for $20 million apiece. Read the full story from the July 2012 issue here.
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From the archives: Faux pas with foreign buyers
From Chinese tax law to Russian commodities, a broker's guide to avoiding cultural pitfalls
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