Prices set to explode higher

There is some truth to that. We have seen a lot of Chinese mainland buyers at the open houses in Tribeca. However, are their numbers large enough to drive up the market? They certainly have a lot of money due to inflated property prices in China.

They're already here, Pulaski: just mosey down to Grant Street, and you'll be surprised.

Most Chinese buyers are hidden behind corporations and trusts.

But, yes, they are everywhere lately.

Actually, there is by no means an invasion but up here in Washington Heights/Hamilton Heights there are a lot more Asians moving in. Not sure if it's the Columbia U expansion or just the fact that the area is cheap. But there is def. a slow but steady change in the demographic. Instead of single young students, gays, and middle class families I now see more a)Asians and b)Orthodox Jewish families.

Love this city and its patterns.

And how will our infamous coop boards react to this "invasion"?

I think, if you read, I said there is by NO means an invasion.
But, I'll answer your question anyway, our board is fine with a buyer who has 20% down, solid financials, and no intention of renting their unit out the second they close. Pretty vanilla, standard requests. Imagine most co-ops will be similar.

Read the interesting article on time.com especially the line they make money from he society but refuse to give back...

liz, just wait when you'll get 6 people moving into a 600 sq ft 1 br or 10 into a 1000 sq ft 2 br. your board will start thinking otherwise.

Well, since we're (negatively) racially stereotyping - I'd say that our area is fairly well acquainted with that scenario given the predominate demographic. We like to politely call it "multi-generational" living arrangement. So, yes, that's a less than desirable outcome even if it gives the area a bit of a bump in pricing. However, it did seem the article was stressing that well off Chinese are moving.

We'll see. I'm sure it will be interesting.

They are more likely to go to California.

You mean California vs. Washington Heights? Which one is colder and damper?

"And how will our infamous coop boards react to this "invasion"?"

many of these Asians are coming from countries with 50% down and 9% mtge rates (if even allowed)...

coop boards will be loving the cash offers..

hmm having to shell out extra maint to support vacant apartment nxt door or deal with rice cooker on 24/7 and not have to shell out former payment??

easy choice, i love panda express.

... lock up your dogs... and your cats.

yes liz, well off. my landlord who just put 9 mexicans into 1200 sq ft apt and 6 into an illegal 700 sq ft basement. he's a managing director or executive vp in a finance firm living in a very expensive area in NJ with his wife 3 kids and in-laws with a total of less then 1200 sq ft for all. so, a very well off asian man who got his education in america, speak fluent english, has great income from investment properties is still living like the mexicans that he stuffs in his rentals.... hmmmmm

Very funny alan, but jason, i tend to agree. Base don the amount of Asians in Vancouver area there does seem to be a strong inclination for the west coast.

ab - I have no idea what you're talking about? I made an off color joke regarding my area being used to crowded housing but pointed out that the article was mainly referring to "wealth drain" from China. I actually wouldn't expect someone in the demographic that the article is referencing to require 10 roommates to afford the place. Also, have you been to China? Wealthy Chinese are fanatical about appearing so. The Asians who are in our building are by far the ones pushing for downtown style upgrades like a roof-deck and doorman while the rest of us are generally more inclined to build reserve fund and do boring capital repairs like repointing the building.

"while the rest of us are generally more inclined to build reserve fund and do boring capital repairs like repointing the building."

are you a co-op board member? that building are you in.. i love boring when it comes to co-op policies.. i notice people who push for upgrades like rooftop pool do so to make up in the lack of hot sex in their lives..

we just appointed new board members.. 7/8 board members stressed preserving capital..

the 8th board member's bio kept going about replacing floors to magenta marble from italy despite the current floors being decent and very study...

...show up at the board meeting, you guessed it.. 8th board member = fat as hell, and probably hasn't had hot sex post-recession.

fat people, plsea buy a louie batton (sp) bag (shoe?) to make urself feel sexier, not play with the board's money...

guess which board member wasn't elected by shareholders.. yup the fat, lonely one who wants to spend, spend, spend to make up for her girth.

ss400k, not on the board but agree that unless the building is simply swimming in cash it's ridiculous to do crazy upgrades that the area doesn't support yet.

Magenta marble? I do hope she was over ruled.