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NY Residential Reit seeks US$50m to buy costly Manhattan apartments

Reit owns no assets, is courting online investors on the strength of its management team to purchase properties

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A new real estate investment trust opened shop last week, seeking to raise US$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.

New York

A NEW real estate investment trust opened shop last week, seeking to raise US$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

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