First there were the Japanese and then came the oil sheikhs from the Gulf kingdoms. The latest group of mega-rich foreigners buying a chunk of Manhattan real estate are Russian oligarchs.

Edward Mermelstein, an international real estate attorney, says that the Russian infatuation with residential New York City properties is a “very serious trend” that surprises even him. “We’re seeing the very high end of Manhattan purchases — and I mean $30 million and up — going to the Russians. It’s incredible,” he says.....

Read More: Russia · Real Estate