Chinese overseas RE investment could nosedive this year: Morgan Stanley

Chinese overseas real estate investment could fall by 84 percent this year and another 18 percent in 2018 amid a government crackdown on capital outflows, according to a new report from Morgan Stanley. This should concern Manhattan’s real estate market, where 30 percent of deals signed this year involved a Chinese investor, Bloomberg reported. Last […]

CL Investment sells one-third stake in Shaoul’s Gramercy Park condo project

UPDATED, Feb. 6, 4:15 p.m.: Chinese development firm CL Investment Group looks to be having second thoughts about New York City’s condo market. The company, formerly known as Cheerland, sold a 32.9 percent stake in the Luminaire, Magnum Real Estate’s rental-to-condo conversion at 385 First Avenue in Gramercy Park, property records show. Another Chinese investor […]

EB-5 investors are California dreamin’

From the Los Angeles website: West Coast, best coast. That’s certainly the attitude among EB-5 investors, the majority of whom choose to live in California, according to a recent report from the Department of Commerce. According to U.S. Citizenship and Immigration Services data recorded between 2009 and 2014, over 8,000 EB-5 investors and their family members resided […]

China’s move to curb offshore investment will fail: OPINION

The Chinese government is ramping up its efforts to stop locals from buying real estate abroad, but some are questioning if the new laws will do anything to slow capital outflows. As of Jan. 1, citizens are required to pledge to banks they will not use funds to buy property overseas. In November, the government […]

Obama administration’s new EB-5 bill could cool use of program by developers

A new proposal from the Obama administration may derail the real estate industry’s EB-5 gravy train. On Thursday, the administration proposed amending the EB-5 program to clamp down on reported abuses. If enacted, the suggested changes would likely have a cooling effect on developers’ ability to leverage the program to fund projects in wealthy areas […]

Get ready for the final day of TRD’s Shanghai showcase

@mrkorangy gives the opening remarks at #TRDShanghai #luxuryrealestate A photo posted by The Real Deal (@trdny) on Nov 17, 2016 at 7:45pm PST The Real Deal is heading into the final day of our second U.S. Real Estate Showcase and Forum at the Jing An Shangri-La in Shanghai, which will get off the ground with a workshop […]

China’s richest man warns the country is facing a RE bubble

Wang Jianlin — who built a massive fortune developing real estate in China — says the market is now facing the “biggest bubble in history.” Jianlin, who is the country’s richest man, says the problem is that prices are continuing to rise in cities like Shanghai, but are dropping in thousands of smaller cities where […]

Extell looks to have brought in Chinese equity partner at Central Park Tower

Gary Barnett’s Extell Development appears to have scored a capital partner for one if its most ambitious projects yet, the Central Park Tower at 217 West 57th Street. New documents filed with the New York Attorney General’s office indicate that the firm’s new partner on the Billionaires’ Row luxury condominium may be SMI USA, the […]