Quote:
Originally Posted by NYguy
I don’t think they’re looking for sale, but to partner with a real estate developer.
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I doubt an agency of a sovereign nation is interested in only partially owning an office/hotel tower in Manhattan when they can recuperate on their investment and wash their hands of the holding. I think they'll demolish the current building and sell fully for a premium, but we'll see. Either that, or they'll redevelop the property themselves - which I doubt. Such a redevelopment would be unprecedented. The only equivalent I can think of is the Abu Dhabi purchasing the Chrysler Building, but obviously that is a trophy property not requiring redevelopment.