Israeli businessman buys HSBC H/O in NY
Banking group HSBC has announced an agreement to sell then lease back its New York headquarters for $330 million in cash, reports timesonline.co.uk.
As Europe’s largest bank, HSBC has announced that it would sell the building, on 452 Fifth Avenue, New York, to a company which is controlled by Israeli businessman Nochi Danker. Under the terms of the agreement, HSBC will then lease back the entire building for one year along with floors 1 to 11 for ten years.
HSBC completed the agreement on its New York headquarters with 452 Fifth Owners LLC, a company owned by Koor Industries Ltd and Property and Building Corp – both controlled by Mr. Danker’s IDB Holding Corporation – which is Israel’s biggest holding company.
Mr. Danker is an Israeli billionaire who earlier this year was also linked with a move to buy British Land’s £2.3 billion Broadgate Estate in London, consisting of a portfolio of landmark commercial developments.
The IDB Group has holdings in Cellcom which is Israel’s main mobile phone operator, whose equity value on the New York stock exchange in 2007 was around $2 billion.
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http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6861358.ece