Jackie Chan’s Beijing condos head to auction amid dispute between developers

Units are to be auctioned to meet debts of developer Yujia Real Estate

Miami /
Sep.September 06, 2020 02:00 PM
Jackie Chan and the building (Credit: Andrew Chin/Getty Images, and NICOLAS ASFOURI/AFP via Getty Images)

Jackie Chan and the building (Credit: Andrew Chin/Getty Images, and NICOLAS ASFOURI/AFP via Getty Images)

Jackie Chan has found himself in the middle of a dispute between two real estate companies, and it might cost him his Beijing condos.

Chan’s two units in Beijing’s Dongzhimen district have been seized via court order, and are up for auction to recoup money owed by developer Yujia Real Estate to Tenhong Real Estate, according to Variety.

Chan paid about $4.9 million for the two units in 2007, in a deal that included some promotional work for Yujia. They total about 13,100 square feet.

It appears there was some mistake made in the paperwork to transfer the ownership rights from Yujia to Chan. At the end of the day, the units are still legally owned by Yujia, or at least Tenhong claims they’re Yujia-owned assets.

The two companies went to court over a payment dispute, and in July a judge ordered the seizure and sale of Yujia’s assets to recoup that debt. Chan tried to appeal the seizure but failed, according to the Daily Mail.

The two condos are reportedly worth about $14.6 million, but bidding is set to start at $10.5 million on September 30, according to Variety.

Chan also owns property in Hong Kong, where he was born. He drew the ire of some protesters in his native territory after making comments considered to be in support of the Chinese Communist Party and against the protest movement’s main goals of retaining political independence for Hong Kong from the mainland government. [Variety]Dennis Lynch


Related Articles

arrow_forward_ios
Novak Djokovic with the unit (Eighty Seven Park unit photo via Lenny Kagan, Djokovic via Getty)
Novak Djokovic sells Miami Beach condo for modest profit
Novak Djokovic sells Miami Beach condo for modest profit
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Greg Norman and Tommy Hilfiger (Getty, iStock)
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Buy this, sell that: South Florida luxury homeowners reshuffle during resi boom
Tommy and Dee Olceppo Hilfiger with 313 Dunbar Road (Getty, Google Maps)
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Tommy Hilfiger drops $21M for waterfront Palm Beach home
Dwyane Wade and Gabrielle Union with 5980 North Bay Road. (Getty, Brett Harris Homes)
Dwyane Wade, Gabrielle Union sell waterfront Miami Beach estate for $22M
Dwyane Wade, Gabrielle Union sell waterfront Miami Beach estate for $22M
Lynda Carter and the Four Seasons Residences at The Surf Club (Getty, Four Season)
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
“Wonder Woman” Lynda Carter drops $15M on Surf Club Four Seasons condo
Jennifer Lopez, Ben Affleck and their Miami Beach property. (Getty, Corcoran)
Jennifer Lopez and Ben Affleck are renting a Miami Beach mansion
Jennifer Lopez and Ben Affleck are renting a Miami Beach mansion
(Getty, iStock)
Penthouse anyone?: Caroline Wozniacki, David Lee upgrade at Palazzo Del Sol
Penthouse anyone?: Caroline Wozniacki, David Lee upgrade at Palazzo Del Sol
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...