# $27 million worth of condos in New York

By [Brandon Donnelly](https://brandondonnelly.com) · 2020-04-16

capital-flows, condo, housing, manhattan, maria-velazquez, new-york-city, peru, pre-construction, real-estate, south-american-family, waterline-square

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This week [it was reported](https://www.wsj.com/articles/south-american-family-buys-eight-new-york-apartments-to-stash-cash-amid-coronavirus-11586952028?mod=re_lead_pos1) that a South American family has bought and closed on ~$27 million worth of residential condos at Waterline Square in Manhattan. Apparently they went into contract (after the online showings) and closed on the same day, which I suppose you can do when it's an all-cash deal like this was. The agent, [Maria Velazquez](https://www.elliman.com/newyorkcity/associate/527-a-551-mavv/maria-velazquez), didn't disclose who the family was, but apparently they're from Peru and they wanted a safe place to park their money during this pandemic. Uncertain times usually create buying opportunities, and it sounds like the family did get a bit of a bulk discount here. But it's also interesting to see where capital is flowing right now and what is perceived as a safe haven. Residential real estate in one of the world's preeminent global cities probably won't come as a surprise to any of you.

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*Originally published on [Brandon Donnelly](https://brandondonnelly.com/dollar27-million-worth-of-condos-in-new-york)*