Asian American Bar Association Event “Understanding the Foreign Purchaser in New York City

On October 3, 2012, Citi Commercial Bank and AABANY hosted a successful CLE dinner event: “Understanding the Foreign Purchaser in New York City.” The event took place at The Holiday Inn in Soho and was attended by 65 attorneys and real estate professionals. Thanks to the support of David Lau, Senior Vice President of Citi Commercial Bank. Distinguished panelists included AABANY Chairpersons: Margaret Ling, Esq., Chair of the Real Estate Committee; Pauline Yeung-Ha,Esq., Co-Chair of the Solo/Small Firm Practice Committee; Tsui Yee, Esq., Co-Chair of the Immigration and Nationality Law Committee; Michael Rudder, Principal of Rudder Property Group and Grace Chan, Vice President of The Corcoran Group. Panel Moderator was Wendy Yu, Esq., Co-Chair of the Solo/Small Firm Practice Committee. The subject matter focused on many interesting facets of the foreign purchaser acquiring NYC property and included discussions of estate tax issues; EB-5 Visas; representing the foreign purchaser in a contract of sale; the state of the office condo market in NYC; and the relevancy of feng shui. The event was so well received that Citi and AABANY will plan future events to further focus on the subject matter.