On October, 20th 2009, 09:33
The text: Alexander Aksenov
Photo: Reuters
Prokhorov's capitals have appeared under "cap" in the USA
Reduction of prices on the real estate of New York and a falling dollar exchange rate have raised interest of foreign investors to investments in the Big apple. The Russian businessmen became one of key players in this market, and «billionaire Michael Prokhorov became the first of the first». It already became a proceeding subject in the USA.
Still one year ago the majority of investors have almost completely disappeared from the market of the real estate of New York. However today the situation varies, and is cardinal, reports Reuters. The weakening dollar and a slump of prices on the real estate on unprecedented over the last 10 years level involve again buyers in the biggest and expensive city of the USA.
The American experts of the market assert that interest of foreign buyers to the real estate of New York became "absolutely obvious" approximately 2-3 months ago when cost of square metres has returned to indicators of the beginning of 2000th years.
The oligarch number 1 »Michael Prokhorov became one of protagonists of the American press Russian«. Within the limits of the transaction on acquisition of 80 % of actions of a basketball team «New Jersey Nets» it was obliged to invest 200 million dollars in project Atlantic Yards Project. According to the information of broker company Prudential Douglas Elliman, the project assumes building of the inhabited and commercial real estate around the New York Brooklyn, and also erection of new basketball arena for club. According to local mass-media, building should begin already in the nearest half a year-year, and after its termination the basketball team will move to New York and will replace the name.
However, before Michael Prokhorov can become the owner of basketball club and begin the developer project in New York, NBA with predilection will study its biography, informs on Tuesday of New York Times. For this purpose the specialised company, whose name remains as fiduciary, will make attempt to estimate a financial condition, including potential debts, and also its partners. The newspaper writes that at first it is necessary for Russian billionaire most to give the information on and to give the permission to an estimation of its capitals. Then the checking firm will start to collect all-round data on the businessman and will prepare the report to Committee on supervision and the finance. Last will dispatch recommendations to all to 30 owners of clubs of association. Usually this procedure occupies 6-8 weeks.
Moreover, as the newspaper informs, in investigation is planned to involve the Russian law-enforcement and diplomatic bodies, military men, investigation and even some ex-employees of KGB, and also partners, competitors and clients of the businessman. In case of the positive decision the billionaire can realise the project in full.
In parallel with become known details of the contract which has divided basketball America into those who is glad to an investment of "the Russian oligarch» in one of key teams of the USA, and those who furiously protects it from "Varangians", in New York judicial hearings concerning club moving «New Jersey Nets» have begun. Cheese-pine forest has inflamed after the authorities of the Big apple have obliged variety of owners of houses and office buildings to sell the property to release the earth for building «prohorovskogo sport centre». Proprietors were indignant, having counted compulsory sale of the contradicting constitution of the country. As informed the New York newspapers on Monday, it is quite probable that from Michael Prokhorov can demand to pay huge compensation to owners to "the stirring real estate».
As to Michael Prokhorov's scale investments into New York brokers of company Ostrov Realty Group notice that investments in the real estate of the most expensive city of the USA will make good profit in the nearest future, a maximum in 2–3 years.
It is informed also that in the beginning of October the Russian investment fund has got a penthouse in Manhattan for 37 million dollars, and in the summer a certain billionaire from Russia has redeemed apartments in Time Warner in the centre of Manhattan for some tens millions dollars.
The average price for square foot of the inhabited real estate in Manhattan has fallen to 16,5 % in the third quarter in comparison with last year.
Experts consider that Russians invest in purchase of habitation of New York for preservation of value of dollar actives, since. The prices for the real estate have considerably decreased, and the dollar exchange rate gradually loses the positions. The second reason local mass-media name «flight from instability in the homeland of oligarchs from the East». It is curious that representatives of business circles of China have got to this category also. On versions Forbes, today the Peoples Republic of China and the USA were made even on number of dollar billionaires whereas Russians have considerably fallen in ratings of the richest citizens of the world.
Uilbur Gonsales, the agent under real estate Brown Harris Stevens, considers that interest of Russian to the real estate of New York has appeared for many unexpected. «I thought that during 2009 and 2010 Russian will lick the wounds», – quotes the broker Reuters agency.
«Russian buy the known real estate, and now it is a lot of them», – so consider in authoritative agency of real estate Prudential Douglas Elliman.
Despite that fact that about 16 million American house owners should now under the hypothecary credits more than there are their objects of the real estate, habitation acquisition in the property remains the reasonable investment, informs portal Prian.ru.
After the Second World War of the price for the inhabited real estate in the USA grew on the average on 4 % a year. The 10 percent initial payment can make for the house owner 1000 percent profit in the event that the project cost will rise twice.
However potential buyers should remember that falling of the prices for habitation in the USA occurs to a certain regularity. According to a price index on habitation in 10 countries Standard largest cities and Poor's/Case-Shiller, since 1990 in the USA it has been noted four price recessions by duration from half a year about one year. The falling average level then reached 3 %. After falling of the prices, as a rule, there comes the period when they stand on one mark, refusing to go to growth. Thus, the people who have made purchase in «wrong time», can face absence of profit on investments within several years. Many analysts of the New York real estate consider that except for Manhattan where the real estate will grow in process of activization of all world markets, the stabilisation period in the American real estate has already begun and can last till 2,5–3 years.
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