850 Third Ave./ Google Maps
NEW YORK CITY—The Chinese conglomerate NHA Group has sold 850 Third Ave. to Jacob, Michael and Simon Chetrit. The deal was first reported in Bisnow. A source with knowledge of the transaction tells GlobeSt.com the price range was $410 to $420 million.
HNA had owned a 90% interest in the skycraper with MHP Real Estate Services and ATCO Properties & Management owning the remaining minority interest. Esther Zar, senior managing director at MHP, brokered the deal for the buyer who bought a 100%, full ownership.
David Sturner, MHP's CEO, provided the following statement to GlobeSt.com: “We are thrilled to have sold this notable asset to a well-respected and established family in the NYC real estate arena. We look forward to working with and providing more opportunities to our friends, Jacob Chetrit and his sons Michael and Simon.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
