China buys more of New York

JulieW · Oct 7, 2014

Using up those dollars!

Beijing's Anbang Insurance Group has agreed to pay Hilton $US1.95 billion ($2.23 billion) for the 1232-room tower on Park Avenue, an art deco landmark and one of Manhattan's signature properties.

Hilton would continue to operate the property for the next 100 years as part of the deal for the Manhattan hotel.

"The hotel will undergo a major renovation to restore the property to its historic grandeur," Hilton said in a statement.

The Waldorf Astoria is the latest iconic New York property to be bought by a Chinese company, after last year's sale of One Chase Manhattan Plaza to Fosun International, controlled by billionaire Guo Guangchang.

Read more: http://www.smh.com.au/business/worl...ks-waldorf-astoria-hotel-20141007-10r3pd.html
Click to expand...

p.s. Not to mention the JP Morgan vault!
( http://www.silverdoctors.com/the-big-reset-why-china-bought-jpmorgans-gold-vault/ )

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China buys more of New York

JulieW Well-Known Member Silver Stacker

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China buys more of New York

JulieW Well-Known Member Silver Stacker

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