NYC luxury real estate market sees influx of Russian sellers liquidating fast ahead of possible US sanctions
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New York City real estate agents have been inundated with Russian clients looking to privately sell off multimillion-dollar properties through so-called "whisper listings" in a rush to liquidate assets amid fears more U.S. sanctions will come against anyone believed to be tied to Russian President Vladimir Putin.
Dolly Lenz, a luxury real estate agent who’s been in the business in New York City more than 35 years, told FOX Business her firm received calls from Russian clients looking to potentially "whisper list" between 50 and 70 properties, mostly in Manhattan, within the last week.
Of the Manhattan properties that may be sold under the radar, the majority are on Billionaires’ Row, a set of ultra-luxury residential skyscrapers along the southern end of Central Park. There are others in the West Village, as well as some luxury condominiums on Park Avenue and Fifth Avenue.
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The properties range in value from $5 million to $45-50 million in asking price, but sales may be rushed for far less depending on how distressed sellers become.