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Chinese Investor May Unload Midtown Office Stake

NEW YORK CITY—The prospective seller holds a 90% stake—bought for $259 million—in a Sixth Avenue, Class A tower.

1180 6th Ave. The 398,208-square-foot property at 1180 6th Ave., in Midtown, is 100% occupied.

NEW YORK CITY—HNA Property Holdings, a real estate investment and management subsidiary of HNA Property Group—a Chinese conglomerate—is reportedly planning to sell its interest in 1180 Ave. of the Americas.

The 90% stake was purchased by HNA for $259 million in 2011, according to The Real Deal, and the firm’s partner at the building is Murray Hill Properties. The seller at that time was the Carlyle Group, which was delinquent on $277.5 million in loans then attached to the building.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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