Publications

HNA sells interest in Manhattan’s 850 Third Ave.
Transactions - NOVEMBER 14, 2018

HNA sells interest in Manhattan’s 850 Third Ave.

by Andrea Zander

HNA Group has plans to sell its 90 percent interest in 850 Third Ave. in Manhattan, according to The Real Deal.

Chetrit Group is said to be the buyer. The pending purchase price is not known.

HNA Group paid $463 million for the 21-story, 617,000-square-foot tower in 2016.

The sale of 850 Third comes after the U.S. government scrutinized HNA’s stake in the property over the summer. The Committee on Foreign Investors in the United States reportedly notified the Chinese conglomerate that it had concerns about the “unique facts and circumstances” of the property’s location.

Forgot your username or password?