…in New York, Los Angeles, Melbourne and Sydney, or Fosun’s purchase of the Chase Manhattan building in New York. (Fosun’s $725 million buy of the One Chase Manhattan Plaza was just finalised on December 18th, and the company’s CEO indicated that the company intends to make more such acquistions). In an interview with the media in Hong Kong, Mao Tong, a partner at US law firm Squire Sanders, said: “The latest relaxation is quite significant. Increa…
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Fosun Buys Second Tokyo Office Tower Within Five Months
…’s biggest investors in global real estate projects after it purchased One Chase Manhattan Plaza last year for $725 million. Second Tokyo Acquisition for Fosun and More on the Way Fosun’s new office block is less than two kilometres away from the SeaFort Square Citi Group Center building that it purchased in August. A number of globally recognised brands are headquartered in Shinagawa ward, including Acura, NSK, and Japanese ecommerce giant Rakute…
Alibaba’s Joe Tsai Revealed as Buyer of $157.5M Manhattan Condo
…was in New York. I met my wife here. So New York to me is my second home.” Manhattan Rebound Tsai’s purchase comes as New York City lifts its COVID-19 restrictions and businesses reopen, with the city’s luxury market also flashing some signs of revival. “The New York luxury market has shown amazing resilience and recently bounced back not long after the city’s reopening,” Dolly Lenz, head of Manhattan luxury residential brokerage Dolly Lenz Real E…
Hong Kong rents rivalling 5th Avenue chase retailers away – and more of Today’s China Real Estate Links | July 26, 2012
…e news collected from around the web: Hong Kong rents rivalling 5th Avenue chase retailers away Hong Kong’s main shopping district is gaining on New York’s 5th Avenue for the title of world’s most expensive retail zone as rents rise by 35 percent a year, pushing chains such as H&M out to the cheaper suburbs. Swedish fashion chain Hennes & Mauritz’s first store in Asia was a 30,000 sq ft (2,800 Sq m) flagship in Central, the heart of Hong Kong. But…
Investment Risks – Chinese Tycoon Killed Flying Over New Vineyard – Today’s China Real Estate Links | December 23, 2013
…omerate Fosun International finalized a deal on Dec. 18 to acquire the One Chase Manhattan Plaza in New York from JPMorgan Chase for US$725 million, according to the Beijing-based Securities Daily. The acquisition, made by Fosun International chairman Guo Guangchang, is being seen as the largest purchase and investment by a Chinese company in New York real estate. Cushman & Wakefield Forecasts 2014 Asia Office Demand At 60 MSF Cushman & Wakefield,…
Yuexiu Property Announces Plan to Sell Fortune World Plaza in Guangzhou
…e drop was due to the tenant structural adjustment of Yuexiu Fortune World Plaza.” In 2015 Yuexiu reduced its valuation of Fortune World Plaza to RMB 788 million and after leasing income continued to slump, in the 2016 report said, “since the operation performance doesn’t match early expectation, the market value of Fortune World Plaza has dropped to RMB 380 million.” Lin Zhaoyuan, the company’s general manager at the time, told the board of direc…
Chinese Buyers Move on to Manhattan
…especially compared to China’s recently decelerating values, help to make Manhattan more appealing. “Average property prices in Manhattan increased 9 percent per year from US$328 per square foot in 1997 to US$1117 per sq ft in 2011,” said Tan. And Tan is not the only agent benefitting from the influx of Chinese with a taste for US property. According to a study earlier this year by America’s National Association of Realtors (NAR), Chinese are now…
Xinyuan Moves into Manhattan with $57.5M Midtown Condo Deal
…ny signed preliminary agreements to acquire the land at 615 10th Avenue in Manhattan’s Midtown area in November of last year, with permission to develop up to 90 condominiums according to a statement from the company. The Manhattan site will be Xinyuan’s second New York project, and comes amidst a burst of acquisition activity for Chinese companies globally which many analysts attribute to growing uncertainty regarding China’s currency and the cou…
Cups for $36M and Manhattan Homes for $23.5M — Chinese Tycoon Gets a Bargain NYC Pad
…top by his new unit he might bump into another mainland billionaire who purchased not one, but two units at the 1004-foot tower in midtown Manhattan. In February of 2015, Chen Guoqing, co-founder of Hainan Airlines, purchased the 86th floor unit at One57 for $47.4 million. It’s safe to say he liked it because two months later the Vice Chairman and CEO of Pacific American Corporation, a US subsidiary of Hainan Airlines (now known as the HNA Group),…
HNA Puts Manhattan Tower on the Block as China’s Mega-Buyer Starts Selling
…Estate Services last year for $463 million. The Middle Kingdom in Midtown Manhattan The year 2016 was an busy one for Chinese acquisitions in Manhattan. In May, China Life Insurance Group took an undisclosed equity stake in 1285 Sixth Avenue in partnership with developer Scott Rechler’s RXR Realty for $1.65 billion, and as the year came to a close, China Investment Corporation forked out $1.03 billion for a 45 percent stake in a building in New Y…