Manhattan Mansion Linked to HNA Sells for Record $90 Million

(Bloomberg) -- A seller affiliated with HNA Group Co., the Chinese conglomerate seeking buyers for real estate worldwide to stave off a liquidity crunch, has found a buyer for at least one Manhattan property: an Upper East Side mansion owned for less than a year.

Manhattan Mansion Linked to HNA Sells for Record $90 Million

The 20,500-square-foot (1,905-square-meter) property on East 64th Street was sold for $90 million, according to records filed with New York City on Wednesday -- records signed by Chen Guoqing, the brother of an HNA co-founder. And it was hardly a fire sale: the home was purchased last April for quite a bit less -- just $79.5 million. Both the buyer and seller were limited-liability corporations named simply for the mansion’s address.

The latest price for the building is a record for a Manhattan townhouse, according to Jonathan Miller, president of appraiser Miller Samuel Inc.

A spokesman for HNA didn’t respond to a phone call and email requesting comment on the sale. The transaction was reported earlier Wednesday by the Real Deal. A representative for the buyer’s LLC also didn’t respond. The New York Post, citing sources it didn’t name, said the buyer was billionaire Len Blavatnik.

Still on the market in New York and across the U.S. are commercial properties valued at a total of $4 billion, including 245 Park Ave., according to a marketing document seen by Bloomberg. That Manhattan skyscraper should command a much higher price: It was purchased, also less than a year ago, for $2.21 billion, among the most ever paid for an office building in the city.

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