HNA closes on $2.21B purchase of 245 Park

Chinese conglomerate HNA Group closed on its $2.21 billion purchase of 245 Park Avenue, or $1,227 per square foot, records show. The deal marks one of the biggest prices ever paid for a Manhattan office tower and is an example of how Chinese money continues to play a significant role in the New York market despite increased capital controls at home. Very few Manhattan properties have ever crossed the $2 billion threshold — the list […] Read More >>