HNA to transform record-breaking Wildenstein townhouse into an office

East 64th Street townhouse sold for record $79.5M this week

TRD NEW YORK /
Apr.April 07, 2017 10:53 AM

An affiliate of HNA Holdings plans to use the record-breaking $79.5 million Wildenstein mansion on the Upper East Side as a boutique corporate office, according to a report.

As The Real Deal first reported earlier this week, art heir David Wildenstein sold the townhouse for $79.5 million, or about $3,180 a foot, which set new record for the priciest townhouse ever sold in Manhattan. Records show the buyer is HNA Holdings Group New York, whose CEO Roy Liao signed the deed. The company is a subsidiary of HNA Holdings, the firm behind the $2.2 billion deal to buy 245 Park Avenue.

Citing sources, the Commercial Observer reported that the 18,860-square-foot property will be transformed into a corporate office. The third floor of the mansion is already used as an executive suite. It’s not clear if the property will be used by HNA or if the firm is looking to lease the manse.

The company pulled in a $50 million mortgage for the home from Ullico Inc., an insurance and investment company.

Last year, Warner Music owner Len Blavatnik tried to sue Wildenstein, arguing he had reneged on a gentleman’s agreement to sell him the townhouse for $79 million. A judge tossed the lawsuit last month. [CO]Miriam Hall


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