Chinese Airline Swoops for Manhattan Landmark?

Aug. 02, 2010 5:16 AM ET
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Contributor Since 2010

This instablog exists to share with readers items of note in Chinese-language publications which might not otherwise get noticed in the West. The writer is an American corporate lawyer based in Asia.

International real estate companies have been organizing tours for cash-flush Chinese investors to search for bargains among the shuttered remains of America's post-crash real estate market. One such investor gives a breakdown of his recent trip touring Manhattan in a article featured in Sohu's Monday finance section.

Vision Finance Securities CEO Ma JiaYing's" Probing the Unknowns of the American Real Estate Market" includes this tasty aside of a potential future real estate transaction sure to bring up memories of foreign purchases past.


"Besides all this, a market rumor currently making the rounds is that a Chinese airline company is in talks with the State of New York to purchase a certain well-known building in New York.  It appears that the talks themselves have been very interesting.  When this particular Chinese airline saw the building, they immediately cut the price in half, offering 50% of the list price.  The State of New York is torn, wanting to sell the building but also hesitant to sell.  The reason they want to sell is because their strained finances leave them no choice and because besides this organization they have basically no other offers. However, they are hesitant because the feel the selling price is too low.  It is estimated that both sides will quickly agree to price terms after a few more rounds of negotiation."

Any guess on the NY Post headline when this deal goes through?


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