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HNA sells UES mansion for $ 90M

HNA sells UES mansion for $ 90M
Chinese conglomerate paid $ 79.5M for property in April

Chen Feng and 19 East 64th Street
An Affiliate of the HNA Holdings Group sold an Upper East Side mansion for $ 90 million, which is one of the largest markets in the world.
The buyer, whose identity was not immediately clear, controls a Delaware-based entity called East 64th Street Property Holdings LLC, according to property records filed Wednesday.
Chen Guoqeng, the company’s co-founder, signed the deed document. Sign up for China Watch for weekly emails on Chinese real estate investments.
HNA bought the 18,860-square-foot mansion at 19 East 64th Street from heir art David Wildenstein in April 2017 for $ 79.5 million and planned to use it as an office. The company funded the deal with a $ 50 million mortgage from Ullico.
Bloomberg recently reported that HNA plans to sell $ 4 billion worth of U.S. properties to help pay off its mounting debt. That includes office tower 245 Park Avenue, which the company bought for $ 2.2 billion in May.
The government of Qatar signed a contract to buy the property from Wildenstein for $ 90 million in 2014 with plans to use it as an embassy, ​​but walked away from the deal.

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