The Real Deal
“We’re in a strong position compared with the rest of the world,” said Ed Mermelstein, a founding partner of real estate law firm Rheem Bell & Mermelstein.
“When the prices of commodities and currency are heading downward, holding real estate in the U.S. is better than holding the gold standard of yesteryear.”
Buyers have also poured more funds into New York real estate over the past two months, says, Edward Mermelstein, a partner at law firm Rheem Bell & Mermelstein who advises Russian investors. “Many of our clients who are active in commercial real estate increased their appetites,” he says. “Now the indication is that their bet was correct.”