The Lure of the Gold Coast

Wealthy Chinese Buyers Head to New York’s Suburbs.

“Most of the larger purchases we do are really more a land buy, where the buyer plans to tear down the house and rebuild it to his tastes,” said Jason Friedman, an agent at Laffey Fine Homes on Long Island, who, along with his mother and partner, Rudi Friedman, has sold three trophy estates, ranging from $13.28 million to $36.5 million, to Chinese buyers in recent years.