Selling real estate to diplomats is a good business on the East Side. With their tax exemptions, missions and embassies can afford to buy much larger spaces than they could ever rent. If, that is, you’re willing to put up with the bureaucracy and layers of red tape that come with selling property to sovereign nations.
Rusty Thrasher, who runs a small brokerage specializing in Murray Hill apartments, learned that the hard way, when a deal to sell a 3,237-square-foot condo combo at Manhattan Place at 630 First Avenue to Bangladesh’s permanent representative to the United Nations A.K. Abdul Momen (“with concurrent accreditation to the Republic of Chile and the Republic of Peru,” because why not?) almost fell through. Read More