RSS   Newsletter   Contact   Advertise with us
Post Online Media

HNA sells majority stake in Manhattan building in $422 million deal

Share on Twitter Share on LinkedIn
Staff Writer | Wednesday January 9, 2019 5:45AM ET
850 Third Avenue
Acquisition   850 Third Avenue

HNA Group said it had sold a majority stake in a Manhattan building in a $422 million deal.


HNA did not give details of the buyer, but a spokesman for the group confirmed the verity of a report by U.S. real estate news website Bisnow that earlier reported the sale of 850 Third Avenue and the deal value.

The website said the building had been acquired by Jacob Chetrit and his sons, Michael and Simon, citing statements from Michael Chetrit and MHP Real Estate Services.

MHP and another real estate investment firm ATCO Properties & Management sold their minority stakes in the building as part of the deal, the report said.

The report also pegged the deal value at $422 million, citing one unnamed source.

 

What to read next
POST Online Media Contact

 More inside POST