Russians buying up NYC lured by Trump's lax attitude toward corruption, money-laundering [View all]
The oligarchs are back in town and hunting for swanky real estate, lured by Trump’s laissez-faire attitude toward corruption and money-laundering - Rich Russians are eyeing and buying expensive real estate in New York for the first time in a decade.
“We’re seeing a lot of Russian nationals. I’ve had five Russians look at properties in the $10 million to $20 million range in the past few weeks—condos and town houses,” a New York broker said.
One returning Russian just signed a contract for a $20 million trophy property in Midtown.
The buying spree is spurred by the cozy relationship between Trump and Putin, the broker said. “A couple of years ago, oligarchs couldn’t buy anything in the U.S., and Putin put pressure on Russians not to buy here or in Europe.”
Russians may also feel more reassured in the knowledge that, back in the day, their fellow nationals (including oligarchs and ex-cons) bought lots of Trump-branded properties. Some even found ways to provide Trump with cash when U.S. banks would not. Or, as Eric Trump told a golf reporter in 2014, “We have all the funding we need out of Russia.”
“They aren’t afraid to buy anymore,” the broker said about the current influx of oligarchs. “That’s what’s changed.”
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