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Chinatown is the New Soho

So say monied folks scrambling to buy in downtown NYC's last edge neighborhood. Just what constitutes Chinatown, however, is up for debate. Newsday interviews a guy who paid $1.6m for a loft at The Garfield Building, which we'd consider solidly Lower East Side. But even in the heart of the hood, prices are rising. One signpost: one bedroom apartments renting for $3,000 a month.
· Buying in and Trading Up [Newsday via The Real Deal]