Property and Building Ltd. (TASE: PTBL), a unit of IDB Holding Corp. Ltd. (TASE:IDBH), controlled by chairman Nochi Dankner, was yesterday offered $750 million for the HSBC building in New York. Dankner bought the building in 2010 when the US real estate market was still licking its wounds from the real estate crash and prices were at a low point.
Property & Building notified the Tel Aviv Stock Exchange (TASE) that, "The company is from time to time approached by various bodies interested in buying the building. The company has yet to make a decision on whether to sell the building."
Property & Building and Koor Industries Ltd. (TASE:KOR) bought the HSBC building for $330 million. It is located at on Fifth Avenue and comprises two buildings with 12 and 29 floors covering 80,000 square meters. UK bank HSBC holds a ten year lease on the building with an option to extend.
Published by Globes [online], Israel business news - www.globes-online.com - on December 19, 2012
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