One57, a new luxury skyscraper apartment building designed by French architect Christian de Portzamparc which is under construction on New York City's West 57th street, is pictured April 24, 2014. REUTERS/Mike Segar
NEW YORK/SYDNEY (Reuters) - For the first time, the Chinese have become the biggest foreign buyers of apartments in Manhattan, real estate brokers estimate, taking the mantle from the Russians - whose activity has dropped off since the unrest in Ukraine and the imposition of sanctions against Russia by the United States.
Wealthy Chinese are pouring money into real estate in New York and some other major cities around the world, including London and Sydney, as they seek safe havens for their cash and also establish a base for their children to get an education in the West.
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