Ohhhhh Look!! There's a Red Star over JPMorgan’s One Chase
Manhattan
Gus Delaporte reports for
the Commercial Observer, Oct. 18, 2013, that Chinese conglomerate Fosun
International has agreed to acquire JPMorgan’s former headquarters in Manhattan
— the 60-story, 2.2 million square-foot One Chase Manhattan Plaza at 16-48 Liberty
Street — for $725 million. JPMorgan Chase & Co. had put the 60-story, 2.2 million-square-foot building up for sale in August.
Tyler Durden of ZeroHedge calls the $725 million price tag “measly” and notes that the iconic 1 Chase Manhattan had been built by none other David Rockefeller, and that Fosun International, also known as “Shanghai’s Hutchison Whampoa,” is China’s largest private-owned conglomerate which invests in commodities, properties and pharmaceuticals. More than that, 1 Chase Manhattan is also the building that houses JPMorgan’s commercial gold vault — reputed to be the largest in the world.
According to Bloomberg, Fosun International is owned by Chinese billionaire Guo Guangchang. Jane Zhang, a Shanghai-based spokeswoman for Fosun, declined to comment on how the company plans to use the building when contacted by Bloomberg News by phone.
The One Chase Manhattan Plaza deal is just the latest. Over the past year, other Chinese developers and wealthy investors have been buying real estate in the U.S., including:
Greenland Holdings Group, a Chinese state-owned developer, signed a preliminary deal last week to buy a majority stake in the Atlantic Yards project in Brooklyn.
Earlier this year, the family of Chinese developer Zhang Xin, co-founder of Soho China Ltd. (410), the biggest developer in Beijing’s central business district, acquired a 40% stake in New York’s General Motors Building in partnership with Brazilian banking billionaire Moise Safra, for approximately $1.4 billion.
In February 2013, China Vanke Co., China’s biggest homebuilder joined a residential real estate venture in San Francisco.
http://dcclothesline.com/2013/10/19/red-star-jpmorgans-one-chase-manhattan/
4 comments:
You may not like this comment but the Chinese are pretty smart. What better way to unload the USD notes that they are holding and will soon collapse, than to purchase American real estate with it for resale in the future during better times? Its better than holding onto those counterfeit IOU's and eat the loss when the FED, Wall Street and the Corporate DC Government all go down the tubes.
No, I do not think that the Chinese are smart. They have acted just as idiotically as the US.
Chimerica lives.
They can't sell what we can't buy, and we can't buy what they can't sell.
Dumb and dumber.
You're missing the bigger picture. There will be an financial and economic collapse in Amerika similar to the planned 1929 Great Depression wherein nobody will be able to buy much of anything. In order to insulate themselves, China, Russia, India, Japan et al, have entered into European economic compacts to De-Americanize themselves from the fallout. If you happen to be holding the largest amount of American currency, you have two options: 1) Unload it as quickly as possible for pennies on the dollar, or 2) Sit on it and hope you can weather the storm. China chose the first option and unloaded it back into Corporate Amerika by purchasing real estate. After the storm has subsided, they will be able to re-sell their acquisitions at a 50 % loss but still that is better than a 100% loss had they chosen door number two! I consider that smart!
It's ALL SHORTLY TRICKLING DOWN TO "THE PEOPLE"
anyone heard of them?
Talking with Chinese from both mainland & Hong Kong they're expecting the losses
and are attempting to "mitigate" these with US real estate. That said "The Old Man"(Chinese Dynastic Head)
has DECLARED TRICKLE Down after Illuminati's "final stand"........& It's COMING:)
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