A new deal has put a $2 billion value on 245 Park Avenue in Manhattan.
Photo: Cam Pollack/The Wall Street JournalNothing gets the blood running in the veins of U.S. property investors like interest from Japanese buyers.
The legendary prices paid by Japanese buyers of American trophy assets culminated in Mitsubishi Estate taking control of New York’s Rockefeller Center in 1989—just before Japan slumped.
It defaulted on its mortgage just six years later.
Persons:
Cam Pollack, —
Organizations:
Mitsubishi Estate, York’s Rockefeller Center
Locations:
Manhattan, Japan