Nussbaum: They're very interested in ground-up condominium development, especially in Manhattan and Brooklyn. New York City is appealing because they like cities, particularly those with growth potential and a stable economy. Manhattan and certain parts of Brooklyn represent that.

In terms of the interest in condos, I think it's because culturally, the Chinese people are accustomed to home ownership and the projects fit their time horizon. They want to be in transactions where they can get in and out quickly and condos are more easily underwritten than rental units.

GlobeSt.com: How was the experience of working with a Chinese partner?

Nussbaum: We found it very easy because this particular group has put together a local team. That's allowed them to conduct business in a way that is customary for people here. It's helped to identify and process transactions as well as with underwriting and to work through the approval process in a very institutional manner. We've enjoyed working with them.

GlobeSt.com: What do you think is the future of Chinese investment in NYC?

Nussbaum: Chinese investors are continuing to come to the market and they're showing interest in prime local markets. Many different types of investors from China are coming to speak to us; I don't see that changing any time soon.