Tal Rappleyea is a real estate and municipal lawyer based in New York state. This blog was originally posted on Tal’s website here.
The Time Warner Center in New York is an important part of the state’s large real estate purchases. Over the past few years, some of the center’s most expensive condos have been bought by mysterious elite. One property with a price tag of $21.4 million was snatched up by Dimitrios Contominas who is a Greek businessman with some history of involvement with corruption. This story is not foreign to those have been known to purchase these high priced residences. Many even take measures to ensure that their identity is a secret. These tactics include making purchases through limited liability companies or even trusts, known to hide the names of buyers. Many years of money from all of over the world have been exchanged right in the Time Warner Center, which therefore revolutionized real estate in New York.
To read the rest of Tal Rappleyea’s blog, follow the link here!