View Single Post
Old Posted Mar 14, 2017, 1:54 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 41,633
Originally Posted by hunser View Post
$4 billion? Trophy asset? Bring it on!

Yeah, we never quite got a look at the "reconfiguration" that was planned. But for the amounts of money involved, I definitely think this would be more than simply converting the upper floors to residential.

.....The Chinese insurer is also seeking a $4 billion construction loan to turn the building’s top floors into luxury condominiums, according to Bloomberg. That loan, if received, would be the largest-ever construction loan for a single property in New York.

Documents sent out to prospective investors claim the finished building will be worth $7.2 billion, according to Bloomberg. It’s not clear how Kushner Companies arrived at that figure – the GM Building, long considered the most valuable office tower in the U.S., is valued at just $3.4 billion.
NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.