Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 8, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

PREMIUM NEWS ARCHIVE

Real estate investment dip.(Business)

Article from: Daily Herald (Arlington Heights, IL) Article date: August 3, 2008

Byline: J.W. Elphinstone Associated Press

Armed with oil profits, two Middle Eastern buyers recently snapped up New Yorks Chrysler Building and General Motors Building for an estimated $3.7 billion.

But their acquisitions of the two trophy offices belies their waning interest in U.S. commercial real estate this year as the U.S. economy stumbles and property prices dip.

Earlier this month, the Abu Dhabi Investment Council, one of the worlds largest sovereign wealth funds, bought a 75-percent stake in the Chrysler ...

Read full article   (with a Free Trial at HighBeam Research)
Newser gathers stories from across the web and packs what you need to know into about 120 words. Check out these stories related to your search.
Visit our grid for the latest news.

Related Newser Stories

 Abu Dhabi
 to Buy
 Chrysler
 Building 

Sovereign wealth fund offers $800M for
NYC landmark

Jun 11, 08 10:02 AM CDT
(Newser) - The Chrysler Building—a jewel of the New York City skyline since 1930—is poised to be sold to the Abu Dhabi Investment Council, reports the New York Post. The nation's oil-rich sovereign wealth fund is offering $800M for a 75% stake in the skyscraper. More »

MORE ABOUT:
New York real estate • New York City • Abu Dhabi • skyscraper • Chrysler Building • Abu Dhabi Investment Council • skyline

(Newser) - Some revile Alain Robert, the so-called “French Spiderman,” for his globetrotting, skyscraper-ascending exploits. But to the many who hold him in esteem, the New Yorker reports, he is simply “badass.” When he scaled the New York Times building last year, one fan was beside himself.... More »

MORE ABOUT:
New York City • Hong Kong • skyscraper • solo • Alain Robert • extreme sports • New York Times building • free climbing • rock climbing

Madonna Drops $40M on NYC Townhouse

Material Mom might be putting off promised move to Malawi

Apr 14, 09 1:31 PM CDT
(Newser) - Madonna may be sending her moving van(s) to the Upper East Side of Manhattan rather than Malawi, reports the New York Post. The singer is plunking down $40 million for a Georgian-style townhouse. That’s $5 million less than the asking price, but hardly a bargain; no residence in the... More »

MORE ABOUT:
real estate • New York real estate • New York City • Manhattan • Malawi • Madonna

 Virgin Megastore to Close 

Iconic record store to become Forever 21

Jan 14, 09 9:37 AM CST
(Newser) - New York City’s iconic Virgin Megastore will close in April, Billboard reports. The Times Square fixture is the US’s highest volume music store, but the real estate company that acquired Virgin in 2007 is booting it for a higher-rent tenant. An exec told Reuters last year that Virgin... More »

MORE ABOUT:
New York real estate • New York City • New York • Virgin • Times Square • Virgin Records