Home / Business

Anbang buys Manhattan office tower

By Jack Freifelder in New York | China Daily | Updated: 2015-02-26 07:37

Anbang Insurance Group Co Ltd has bought an office building in New York City, reportedly for between $400 million and $500 million, in one of Manhattan's most desirable areas, according to real estate executives.

The tower is at 717 Fifth Avenue on East 56th Street, known as the Plaza District because of the nearby Plaza Hotel. Anbang's deal is for 22 floors of the 26-story building above retail space along Fifth Avenue, which is separately owned and used by luxury fashion brands Dolce & Gabbana and Armani.

Anbang acquired the property from New York-based Blackstone Group LP, a private-equity firm, Crain's New York Business reported last week. The price was not disclosed, but Bloomberg News reported it could approach $400 million to $500 million.

Anbang buys Manhattan office tower

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349