Russian Oligarchs Take Manhattan
Could political unrest in the former Soviet Union be causing a flight to the Big Apple?
By Jay Akasie
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. Were seeing the very high end of Manhattan purchases and I mean $30 million and up going to the Russians. Its incredible, he says.....