An attractive young woman in a dark pantsuit is pacing the edges of demolished urban lot, chanting quietly and gently tossing grains of vodka-soaked rice while development executives looked on appreciatively, smiling beneath their ceremonial hard hats as an ancient ritual is performed on the site of their newest project.

If the scene sounds bizarre, it is also almost surely a glimpse into the future of New York City real estate

“Everyone can benefit from good energy,” said Eric Benaim, President of Modern Spaces, whose company has enlisted the services of “Certified Feng Shui Consultant” Laura Cerrano of Feng Shui Long Island to advise them on every facet of the design and construction of Vista Court, a 15-story residential building on Purves Street just south of Northern Boulevard. But while Mr. Benaim might very well be correct, every trend in city real estate would point to the fact that Modern Space’s decision to feng shui its newest project is being made with explicit intent to attract the most sought after buyer in today’s market; the Chinese.

Roughly $30 billion was invested in New York City real estate during the last year alone, making it the premier city in the world in that category, outpacing London, Tokyo, Paris and Hong Kong. A vast amount of that investment capital came from overseas, with European, Pacific Rim and South American investors, but Chinese investors are widely believed to be leading the way. Read More