Why a Minor-League Chinese Insurer Is Buying the WaldorfBy
Chinese investors, who have been pouring money into New York real estate, have finally nailed their trophy property. Over the past year conglomerate Fosun International paid $725 million for a downtown Manhattan office tower , and Shanghai-based Greenland Hong Kong Holdings bought control of the Atlantic Yards project in Brooklyn (albeit without the Barclays Center). Now a China-based company has sealed the type of Japanese-buying-Rockefeller-Center deal that signals the country’s arrival.
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