Inside a $20 Million NYC Apartment | ABC News

[morris]

the host and "reporter"



but that apt

 

[Finesse]

Gotham City

Only city in the world where a idiot will be down for throwing 20 m's for a 4 bed room apt just to sit above it all

 

[BaileyPark31]

Beautiful apartment

 

[PaperEnterprise]

Gotham City

Only city in the world where a idiot will be down for throwing 20 m's for a 4 bed room apt just to sit above it all

I know people who own multi million dollar apartments in the city, to some its chump change

 

[Collateral]

My dream crib

 

[Orbital-Fetus]

these multi-million dollar properties are being used to launder money.
many of them are owned but not occupied.

just being used to clean dirty money from all over the world and driving up property and rent for regular people.
it's not just happening in NYC either.
this is a world wide scam.

 

[staticshock]

these multi-million dollar properties are being used to launder money.
many of them are owned but not occupied.

just being used to clean dirty money from all over the world and driving up property and rent for regular people.
it's not just happening in NYC either.
this is a world wide scam.

Why must everything be a conspiracy to you nikkas

 

[dora_da_destroyer]

Fredrik has always been to me, too bad he's a

 

[FukYaFeelings]

Why must everything be a conspiracy to you nikkas

 

[EBK String]

I wouldn't even pay 2 mil for that shyt

 

[DonRe]

Why must everything be a conspiracy to you nikkas

But it's not. The process to buy a crib like that to clean dirty money is a old play in money laundering.

You don't need proof of employment only credit score, bank account statement, down payment, and some other very minimal qualifications. Remember is from selller to buyer no middle man federal regulatory organization unless they watching, then you will get got quick.

But in DR, my moms has 4 Colombians "neighbors" arrested and confiscated bundles for money laundering. They didn't step a foot in there apartments. It was a front to hide money.

 

[Orbital-Fetus]

Why must everything be a conspiracy to you nikkas

Tax avoiders use all sorts of techniques. But I'd like to focus on one: real estate. It's a technique that is both growing in importance, and could be addressed relatively easily.


First, it's important to be clear about what sort of behavior tax avoidance is. All corporations and businesses rely absolutely on states to exist at all. No entrepreneur could ever get going without a state-created legal system, state-enforced property rights, and the state monopoly on violence. Using a tax shelter is therefore sheerest economic parasitism — rolling up a big pile of wealth under the umbrella of state protection, and then squirming out of as much responsibility as possible to maintain that state.

Real estate — especially in red-hot, ultra-expensive markets like Manhattan — has become a favored investment vehicle for the global elite. As this New York investigation demonstrates, between 2008 and 2014, roughly 30 percent of condos in big Manhattan developments were sold either to foreign investors or LLCs (which are usually hiding some foreign investor).

Foreign investors do generally have to pay some American tax (in property and sales), for the privilege of avoiding domestic taxation in Russia or wherever. But they are clearly getting a good deal out of it — there are only so many places to sock away millions, especially in ways which camouflage one's identity.

How foreign investors launder their money in New York real estate

The money laundering charges are tied to real estate that Manafort owns in New York City, specifically a condo on Howard Street in Soho, and a house on Union Street in Carroll Gardens, both of which were bought in all-cash transactions through a shell corporation based in Cyprus.

According to the indictment, Manafort claimed that the Howard Street apartment was a secondary residence for his daughter and son-in-law, when in fact, he was renting it out on Airbnb, “among other places.” He falsely represented it as a residence to a bank in order to receive a mortgage of approximately $3.185 million, which would have been lower had he disclosed that it was being used to generate income. And let’s not forget that it’s illegal to rent an apartment on Airbnb for fewer than 30 days if the owner is not also present in the space.

Paul Manafort indictment includes money laundering charges tied to NYC real estate


i could post more but at this point it's not a conspiracy theory.
it is a fact and it is destroying regular people's ability to live comfortably in many cities.

 

[ORDER_66]

Why must everything be a conspiracy to you nikkas

He's right this is happening in Seattle and Vancouver with the chinese... these are #FACTS most of these skyrise apartments are brought by wealthy oil magnates and other foreign buyers used as either vacation spots, hangouts or just places they can lay low... other wise you can buy a place with dirty money, sell it off then get clean money in return. it's a way of washing it...
there was just a law in canada about this.

 

[DonRe]

How foreign investors launder their money in New York real estate



Paul Manafort indictment includes money laundering charges tied to NYC real estate


i could post more but at this point it's not a conspiracy theory.
it is a fact and it is destroying regular people's ability to live comfortably in many cities.

Good shyt. My boy is a doorman at a very prominent luxury complex in Chelsea. There's 10 15 20 million dollar apartments that have been vacant for over 5 years. Emptier than a bums bank account but are not on the Market.

 

[AlainLocke]

Why must everything be a conspiracy to you nikkas

It's true...

Chinese, Russian and Indian multi-millionaires and billionaires take their money to cities like NYC, Toronto, Montreal and spend it overseas and drive up the prices of real estate for a normal citizen.

When you have a declining or stagnate Western economy and capital and entrepreneurship opportunities shift to the East...but the developed world and the luxury goods are in the West...this is what happens. nikkas that got an obscene amount of money will go and buy up real estate, hiding their assets from their own government.

It's no different than what Western multi-millionaires and billionaires do, stashing their money in fake Latin American and Carribbean companies.


How much have foreign buyers affected Toronto’s housing market?
How Chinese families are showing investment wisdom in a hot real estate market
New York is the New Switzerland or Why Foreign Buyers Will Continue Investing in NYC Real Estate
Where do Russian oligarchs live in NYC?
Foreign Investors Have Landed: Do You Know How to Serve This Unique Real Estate Buyer? - McKissock Learning