HNA in talks to sell 245 Park to SL Green

HNA Group may not own 245 Park Avenue for much longer.

The Chinese conglomerate is in talks to sell the tower it purchased last year for $2.2 billion to SL Green Realty, according to Bloomberg. HNA is also looking into a debt recapitalization of the building.

HNA is currently facing a huge debt burden and pressure from the Chinese government to slow down its international spending. It has already sold holdings worth $13 billion this year, including its $6.5 billion stake in Hilton Worldwide Holdings. The firm is also looking to sell 850 Third Avenue in Midtown and 123 Mission Street in San Francisco.

Northwood, which paid $305 million for HNA’s 1180 Sixth Avenue in February , is also said to be looking at 245 Park and other properties.

HNA financed its purchase of 245 Park Avenue with roughly $1.8 billion in debt. The tower has several high-profile tenants, including JPMorgan Chase and Major League Baseball. [Bloomberg] – Eddie Small