One57 Already Getting Foreign Capital

extell One57 Already Getting Foreign Capital


Well, that didn’t take long. One57, that prime slab of midtown real estate, is already attracting top foreign-dollar, The Post reports. Apparently both Chinese and Russian tycoons are in contract to buy eight figure units in thee building, which comes as little surprise. Extell, the developers behind One57, have been unabashedly courting foreign buyers for months.

One Chinese buyer has signed on to buy four separate condos in the building, each worth more than $20 million. Unless he has a very odd sense of feng shui, preferring four separate living spaces to one giant home for practically the same price, it seems likely that the units will be used for investment of business purposes.

Separately, a Russian oil magnate (in all likelihood another post-USSR oligarch of dubious repute) is buying a $28 million place in the building.

All we can say is Thank god for the post co-op luxury market! Heaven knows these fellows would have a tough time passing the passing the boards.


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