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Manhattan Condo Deals Targeted for Online Investors by New REIT
By reinvestor on May 5, 2017
By Oshrat Carmiel
(Bloomberg) –A new real estate investment trust opened shop this week, seeking to raise $50 million from investors online. It plans to use the money on some of the most sought after properties in the world: New York apartments.
NY Residential REIT is a “blind pool,” meaning it owns no assets and is courting investors on the strength of its management team to purchase properties once it has funds.
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