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Moscow On Hudson.(International Edition; REAL ESTATE)(Hudson, New York)(Brief article)
Byline: Rana Foroohar
A plummeting ruble and a frozen stock market (trading in Moscow was once again suspended last week) mean that rich Russians are desperate to move their remaining money abroad. At least some of them are pouring it into New York real estate. Luxury pads in places like London and Manhattan were popular among elite Muscovites even before the property crash, but demand is increasing now that many top properties are selling at a 15 to 20 percent discount from their highs. Edward Mermelstein & Associates, a New York real-estate firm that specializes in helping overseas clients buy property in the United States, has closed six deals in recent weeks on behalf of ...
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Source: HighBeam Research, Moscow On Hudson.(International Edition; REAL ESTATE)(Hudson, New...