HNA, partners take financial loss on sale of 850 Third Avenue

Investor Jacob Chetrit bought 850 Third Avenue from debt-laden HNA Group and its partners for $422 million. Chetrit and his sons, Michael and Simon, closed on the deal Tuesday afternoon, Bisnow reported. “We view 850 Third Ave. as a balanced investment, due to its existing strong tenant roster and the opportunity for future upside,” Michael Chetrit said in a prepared statement. HNA’s minority partners, MHP Real Estate Services and ATCO Properties & Management, also sold … Continue reading HNA, partners take financial loss on sale of 850 Third Avenue