China’s Conglomerate HNA Group Acquires Second Office Building in NYC

File photo: 850 Third Avenue in New York’s Manhattan

China’s HNA Capital has acquired the 850 Third Avenue in New York’s Manhattan in a deal of 463 million USD with Shorenstein Realty Service, according to the cnstock.com on Tuesday.

The 21-story office tower in Midtown East is neighbor to several landmarks of New York City, such as the Grand Central, the UN Headquarters, as well as many of the world's 500 largest companies. It covers a total area of 614,000 square feet.

As a subsidiary to China’s HNA Group, HNA Capital’s main businesses include leasing, insurance and trust. It is also the world’s 4th largest aircraft leasing service provider with a fleet of over 220 aircrafts. HNA said it will set up its HNA Capital division’s U.S. headquarters at 850 Third Avenue, joining current tenants like Discovery Communications, Radio One, and the City of New York.