>The ultra high net worth individuals I was referring to were $30M and up, not $1B and up. They were also just the people who declared their residency as being

>The ultra high net worth individuals I was referring to were $30M and up, not $1B and up. They were also just the people who declared their residency as being in NY. Not overseas investors who want a foothold. I don't know about NYC but in London, high end developments are usually ~80% bought by these types of investors. They take up a ridiculous amount of prime real estate with their almost-always-empty pied-de-terre's. This is not even starting to count prices being driven up by high net worth investors buying rental properties in those same cities.