Europeans Are Buying Up New York City Condos

03/28/2008 02:45 am ET | Updated May 25, 2011

The sidewalks of Manhattan are crammed this month with European tourists on shopping sprees, picking up gifts that cost far less in the United States than they do at home because of the weak dollar. But they are not just crowding into boutiques and department stores. Some are also shopping for condominiums.

"There's bargains to be had," said Kerry Miller, a public relations executive who with her husband, Marty, a disc jockey, was working through her Christmas gift list by buying sweaters at Abercrombie & Fitch and makeup at MAC, as well as touring 32 apartments. The Millers, from Malahide, Ireland, a suburb of Dublin, searched for a one-bedroom condo. They made an offer for $700,000 on one apartment in the meatpacking district and are waiting to hear back from the seller.

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