International Cash Pours into Manhattan

Buyers from overseas keep buying bigger buildings. Five of the top six office transactions in the first half of 2017, representing 86% of the total office investment sales volume, involved foreign capital, according to research from JLL. The giant deals included the $2.2-billion acquisition of 245 Park Avenue by HNA Group.

Money from overseas has been especially important in 2017, as the overall volume of investment sales has fallen sharply.

Since 2015, China, Canada, Germany and Hong Kong were the most active sources of foreign office buyers.

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