Chinese millionaire buying New York condos

New York

Chinese buying real estate in New York

Chinese continue to invest in New York City.  A Chinese millionaire called Tong Tong Zhao, co-founder of China Lodging Group, bought a condo unit at 220 Central Park South in New York City. The unit is a two-bedroom apartment and is about 2,394 square feet. The asking price was $13.25 million.

Vornado said it is looking at $1 billion in profits from the sale of ultra-luxury units at the project, which is 83 percent sold. In a quarterly filing, the company noted about 98 of 118 units are in contract. Closings are scheduled through 2020.

Read the full details on The Real Deal

In the Media

South China Morning Post
Shanghai Times
Shanghai Office
Capital Weekly
The New York Times
Financial Times