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+--- Thread: Arabs buy the Chrysler Building (/showthread.php?tid=58082)
Arabs buy the Chrysler Building - Jimmypoo - 07-10-2008
http://www.yahoo.com/s/914725
. . .call me Ishmael. . . - NewtonMP2100 - 07-10-2008
. . .oh I thought you said Ahab. . .
Re: Arabs buy the Chrysler Building - Will Collier - 07-10-2008
What was the joke back in the '80's? "The Japanese will never be able to buy Manhattan--the Arabs would never sell it to them."
Re: Arabs buy the Chrysler Building - NewtonMP2100 - 07-10-2008
. . .a few years ago. . .wasn't there a big to do about.. .I think Japanese buying Rockefeller Plaza. .. or something like that. . .
Re: Arabs buy the Chrysler Building - MacMagus - 07-10-2008
The Abu Dhabi Investment Council Investment Council purchased a 75% stake in the building from Prudential Financial Inc., for $800 million dollars.
Who owns the other 25 percent?
Edit: 'Just found out. The rest is owned by Tishman Speyer Properties, a NY investment firm... so while it's a minority interest, New Yorkers still own a chunk of the building.
Edit2: Some sources are reporting that the ADIC acquired a 90% stake in the building, including most of Tishman's shares. Which is correct?
Edit3: Ouch! The 90% figure is correct.
http://online.wsj.com/article/SB121561441265439259.html?mod=googlenews_wsj
Re: Arabs buy the Chrysler Building - blooz - 07-10-2008
If they are looking to buy in America, I have a nice riverfront property in Cummington i could let go for half a mil.
Re: Arabs buy the Chrysler Building - Mr Downtown - 07-10-2008
Why is this news? Many, many large city skyscrapers are owned by overseas pension funds, insurance companies, and investors.
Re: Arabs buy the Chrysler Building - davester - 07-10-2008
[quote Mr Downtown]Why is this news?
Because it's popular these days to demonize arabs. Jimmypoo's just stoking the fires.
Re: Arabs buy the Chrysler Building - Will Collier - 07-10-2008
[quote NewtonMP2100]. . .a few years ago. . .wasn't there a big to do about.. .I think Japanese buying Rockefeller Plaza. .. or something like that. . .
Indeed they did, for an exorbitant price. After the Japanese economy tanked in the '90's, it was sold back at a very substantial loss.
Re: Arabs buy the Chrysler Building - the_poochies - 07-10-2008
That's okay. Europeans own the rest of Manhattan, thanks to the crappy US Dollar.