Business, Economics and Jobs

Chinese mom buys 2-year-old daughter $6.5m apartment


The midtown skyline remains lit as Lower Manhattan remains mostly without power on November 1, 2012 in New York City. The storm has claimed many lives in the United States, and has caused massive flooding across much of the Atlantic seaboard. U.S. President Barack Obama has declared the situation a "major disaster" for large areas of the U.S. east coast, including New York City.


Afton Almaraz

A Chinese woman has bought her 2-year-old daughter a $6.5 million apartment in Manhattan.

Realtor Kevin Brown told Chinese television station CCTV that the woman said her toddler daughter would be going to Columbia University, New York University or maybe Harvard. (Perhaps the distance from New York City to Boston doesn't seem so far from China.)

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"I was just shocked,” Brown said.

The luxury apartment is located in a new building, which is still under construction, near Manhattan's pricey Fifth Avenue.

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CNBC reported Chinese investment in the US will likely break another record this year, according to research firm Rhodium Group.

Last year alone, Chinese buyers purchased some $9 billion in real estate, according to the National Association of Realtors.