Wednesday, July 09, 2008

Should we be concerned?

Just in today hot off the drudge report. I ask you is anyone concerned with Abu Dhabi investment snatching up USA property?


Lois Weiss

AS of today, the majority of the iconic Chrysler Building should be in the - we expect - happy hands of the Abu Dhabi Investment Council.

The nearly $800 million deal, first reported by The Post on June 11, by the Middle East sovereign wealth fund included the purchase of 90 percent of the ownership stake while leaving local Tishman Speyer Properties as the manager of the 77-story tower.

Sources tell us the secretive ADIC will also soon close on the separate purchase of the retail sections that include the dramatic Philip Johnson-designed pyramid-shaped Trylons along E. 42nd St. that’s now rented to the Capital Grille steakhouse.

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