Ahead of Ruble Collapse, Russian Elite Stashed Money in Foreign Real Estate

Bloomberg

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.”