Japanese Firms Renew Interest in NYC Property

THE WALL STREET JOURNAL

Japanese real-estate firms also have been more willing to work this time with local partners. During the 1980s, most Japanese firms didn’t do this, “and that’s a reason why they departed the market so quickly when it fell apart,” said Edward Mermelstein, a real-estate attorney with RheemBell & Mermelstein LLP. “Foreign investors today are looking to partner with local companies so they can be long-term players.”