Gold Coast Lures Foreign Buyers ; Weak Dollar Translates to Quick Gains
The Record, Bergen County, NJ › February 19, 2008
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Summary
Lots of people can negotiate good real estate deals, but when Inyoung Park came to the table, she had a built-in advantage: Her money was simply worth more.
Park's parents, who live in Korea, purchased the two-bedroom condo at Independence Harbor in Edgewater in her name. She lives there; they can stay there when they visit and use it as their investment property.See the full content of this document
Extract
Gold Coast Lures Foreign Buyers ; Weak Dollar Translates to Quick Gains
Park, a 23-year-old who takes the ferry daily to her job in the financial district, estimates that the condo cost about $795,000. But because the family transferred their won from a Korean bank to pay for it, it really cost them only about $740,000 pricey, but a lot cheaper than similar places in New York City. Differences in the value of the currencies accounted for the savings.
New York City has ...See the full content of this document
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