Spanish Harlem To Become Chinese Harlem?

[NyWriterdude]

Originally Posted by Kefir King

I travel into East Harlem often for shopping. I see NO Chinese influence, NONE.
It remains very much Hispanic Harlem.

There's Chinese food places.

There are a lot of buildings in East Harlem that are being gut renovated. At least some of the developers are likely Chinese.

I also don't think people are saying Spanish Harlem has become Chinese Harlem. But if the neighborhood went even from 0% to 1% Chinese that's a big population jump, considering how fast demographics change in NYC.

Parts of Corona that were Black and Latino now have a large Chinese population.

In a few years East Harlem could be a different place as there are lots of closed buildings they could renovate and rent out to Chinese. In fact it wouldn't surprise me if those newly renovated buildings are specifically aimed at Chinese customers.

[ControlJohnsons]

Originally Posted by NyWriterdude

There's Chinese food places.

There are a lot of buildings in East Harlem that are being gut renovated. At least some of the developers are likely Chinese.

I also don't think people are saying Spanish Harlem has become Chinese Harlem. But if the neighborhood went even from 0% to 1% Chinese that's a big population jump, considering how fast demographics change in NYC.

Parts of Corona that were Black and Latino now have a large Chinese population.

In a few years East Harlem could be a different place as there are lots of closed buildings they could renovate and rent out to Chinese. In fact it wouldn't surprise me if those newly renovated buildings are specifically aimed at Chinese customers.

East Harlem is being bought by the Chinese in size. They don't live there in large numbers yet, but they've bought significant properties as landlords and property owners.


Bank of China backs Eichner’s Harlem project to the tune of $200M




"Over the past few years, Chinese investors have been aggressive in commandeering New York City real estate.

In 2014, the country accounted for about $6 billion in investments in US properties. Out of that total, about three-fourths flowed towards Manhattan.

“I think, generally, off-shore investors, and this is not specific to China, they tend to not understand our rent control and rent stabilization laws. And a lot of the changes that are occurring currently are further confusing them. I’ve seen a lot of people, because of what’s going on, pulling back to ‘If it’s not fair market, I don’t look at it,’” she said.

Nonetheless, the flow of Chinese cash to New York City will likely continue. The country’s investors currently own prime assets such as One Chase Manhattan Plaza and the Waldorf Astoria.

In an earlier interview, Bob Knakal, the chairman of investment sales at Cushman & Wakefield, said that he expects Chinese investors to inject $50 billion into the New York City real estate market over the next few years."

[ControlJohnsons]

The EB-5 Visa Program Allows 10,000 Wealthy Foreigners to Buy Citizenship Each Year - The Atlantic

"The massive $20 billion Hudson Yards project is one of the nation’s biggest development efforts. When it’s completed on New York’s west side, it will have have 5,000 apartments, six skyscrapers, and pneumatic tubes for trash disposal. And one more feature of the project: It has paved the way for the green cards of about 1,200 Chinese millionaires. How’s that? Via what’s known as the EB-5 “Immigrant Investor” program, which allows foreigners to get a green card if they invest a certain amount of money to create jobs in the United States. In effect, rich people can buy American citizenship, and that’s made it controversial in an era of wariness about immigration."

Create construction jobs, you got a green card.