NY condo builders target less-wealthy amid market turmoil
Properties priced at US$1,800-2,500 psf are in greatest demand from Chinese buyers
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New York
TUMULTUOUS stock and commodity markets are roiling investors around the globe. For Hong Kong developer Neo Que Yau, that presents an opportunity on Manhattan's 59th Street.
"The world economy is fairly weak in general, and I think there's a lot of room for the New York market to grow, " said Mr Neo, who's building his company's first tower in the city, and the tallest it's ever developed. "We think there are still inflows to the US, and we think it might even accentuate because of the flight to safety."
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