New York's Chrysler Building Bought by Abu Dhabi Fund (Update2)

[ensho]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aACZuFPo8cf8&refer=home


New York's Chrysler Building, an Art Deco icon that helps define the New York skyline, was bought by an Abu Dhabi sovereign wealth fund, the second purchase of a Manhattan landmark by Middle East investors in as many months.

The skyscraper at 405 Lexington Ave., the world's tallest building until 1931, was acquired yesterday by the Abu Dhabi Investment Council for an undisclosed price. Last month a Dubai fund, Boston Properties Inc. and Goldman Sachs Group Inc. paid $2.8 billion for the General Motors Building.

Abu Dhabi, Kuwait and other Persian Gulf countries flush with oil revenue have taken advantage of falling prices to invest in real estate and financial companies around the world. Middle Eastern investors have spent $1.8 billion this year on commercial property in the U.S., more than other international buyers, according to Real Capital Analytics Inc., a New York-based property research firm.

``We're sending our money their way'' to purchase oil, ``and that money is coming back and buying our assets,'' said Dan Fasulo, market analysis director at Real Capital.
-snip-
------------------------


don't you just love it

[gateley]

1. How can things like this not cause concern to Americans?

The Chrysler building is OURS -- part of our History.

Weren't they going to sell (or lease) our PORTS to some offshore interests a while back?

They're selling America itself, along with our rights, right out from under us. :grr:

[Prefer]

4. Who is "US" and who are "They"

Do the corporations represent who we are?

I thought Free market was regardless of race, gender or religion.

So what is it about the Abu Dhabi based investment group do you oppose?

[gateley]

6. It doesn't matter. Never mind. nt

[Prefer]

2. Isn't this racist?

First off you are qualifying the subject purchasers by their nation of origin.

[HiFructosePronSyrup]

3. More or less.

[ensho]

5. I wasn't thinking race, I was thinking the neo cons moving shop

to Dubai was progressing nicely.