Famed developer Donald Trump wants life to be a bit easier for well-heeled Russians by selling his New York real estate in Moscow, making it simpler to buy one of his luxury Manhattan apartments without even leaving the country.
Trump's real estate agent Sotheby's International Realty, together with Russian partner Kirsanova Realty, held a reception Tuesday night at Moscow's Baltshug Kempinski Hotel in a quest to bring their business to Russians, who are increasingly shopping abroad.
On offer were three elite New York projects: Trump World Tower at United Nations Plaza, Trump Palace on Riverside Boulevard and the AOL Time Warner building on Columbus Circle. Buying into the Trump empire doesn't come cheap -- apartments range in price from just under $1 million to $30 million, with property taxes correspondingly stratospheric, climbing as high as $15,000 per month. But with steep prices come world class perks: Hollywood stars as neighbors, hotel service at home, valet parking and nice views.
It was only recently that Sotheby's took notice of the growing number of Russians snapping up real estate in the United States. "I proposed to find a partner to work with our Russian clients one year ago," said Mika Sakamoto, SIR senior vice president.
Company president Stuart Siegel said Sotheby's came to Russia to test the market and get exposure. "We've found there is a very well-defined buying public of Russians interested in U.S. property," he said, adding the presentation in Moscow was also a way of getting to know clients they have worked with indirectly in the past.
When asked about the prospect of acquiring property through Sotheby's and Kirsanova Realty, guests at Tuesday's reception shied away from saying directly whether they were interested in the super expensive apartments. One guest said most were there to see "how the other side lives."
"I'm not in New York enough to buy an apartment there," said Natalia Sergeyeva, a bank employee. "But it's interesting to see what's on offer there so that there is something to compare housing here with."
In the past decade, Russians have gained a reputation for buying up prime property in Europe, mainly on France's Cote d'Azure, southern Spain and Cyprus, according to Natalia Krol, a real estate expert with Mir i Dom, or World and Home, magazine. Now American realtors are seeing more Russians on the U.S. market.
How much capital actually escapes Russia for real estate purchases is impossible to calculate, as neither Russian nor Western real estate companies keep those kinds of statistics. Foreign embassies in Moscow said they also had no access to that information.
"People are reluctant to show how much they spend," said a source in the real estate business.
However much it is, though, Sotheby's partner Kirsanova Realty is keen to get a slice of the action.
"Lots of Russians are buying up property in the States, why shouldn't I get a piece of that?" said Philipp Bogdanov, a manager at Kirsanova. "Sotheby's approached us to be their affiliated structure in Russia. They looked around and saw that we were the best."
Kirsanova Realty will get a "small percentage," from every sale made through their office, Bogdanov said.
Trump's real estate agent Sotheby's International Realty, together with Russian partner Kirsanova Realty, held a reception Tuesday night at Moscow's Baltshug Kempinski Hotel in a quest to bring their business to Russians, who are increasingly shopping abroad.
On offer were three elite New York projects: Trump World Tower at United Nations Plaza, Trump Palace on Riverside Boulevard and the AOL Time Warner building on Columbus Circle. Buying into the Trump empire doesn't come cheap -- apartments range in price from just under $1 million to $30 million, with property taxes correspondingly stratospheric, climbing as high as $15,000 per month. But with steep prices come world class perks: Hollywood stars as neighbors, hotel service at home, valet parking and nice views.
It was only recently that Sotheby's took notice of the growing number of Russians snapping up real estate in the United States. "I proposed to find a partner to work with our Russian clients one year ago," said Mika Sakamoto, SIR senior vice president.
Company president Stuart Siegel said Sotheby's came to Russia to test the market and get exposure. "We've found there is a very well-defined buying public of Russians interested in U.S. property," he said, adding the presentation in Moscow was also a way of getting to know clients they have worked with indirectly in the past.
When asked about the prospect of acquiring property through Sotheby's and Kirsanova Realty, guests at Tuesday's reception shied away from saying directly whether they were interested in the super expensive apartments. One guest said most were there to see "how the other side lives."
"I'm not in New York enough to buy an apartment there," said Natalia Sergeyeva, a bank employee. "But it's interesting to see what's on offer there so that there is something to compare housing here with."
In the past decade, Russians have gained a reputation for buying up prime property in Europe, mainly on France's Cote d'Azure, southern Spain and Cyprus, according to Natalia Krol, a real estate expert with Mir i Dom, or World and Home, magazine. Now American realtors are seeing more Russians on the U.S. market.
How much capital actually escapes Russia for real estate purchases is impossible to calculate, as neither Russian nor Western real estate companies keep those kinds of statistics. Foreign embassies in Moscow said they also had no access to that information.
"People are reluctant to show how much they spend," said a source in the real estate business.
However much it is, though, Sotheby's partner Kirsanova Realty is keen to get a slice of the action.
"Lots of Russians are buying up property in the States, why shouldn't I get a piece of that?" said Philipp Bogdanov, a manager at Kirsanova. "Sotheby's approached us to be their affiliated structure in Russia. They looked around and saw that we were the best."
Kirsanova Realty will get a "small percentage," from every sale made through their office, Bogdanov said.