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The folk art museum’s building was designed by Tod Williams Billie Tsien Architects and opened in 2001. It was not clear whether it would be torn down. The folk art museum took on $32 million of debt to construct the 53rd Street building. But attendance never met expectations, and after sustaining investment losses in the financial crisis, the museum defaulted on its debt. — NYTimes.com
Documentary by SBS Dateline (Australian TV) about the Chinese real estate market. — SBS Dateline
New York's Chrysler Building was bought by an Abu Dhabi sovereign wealth fund, the second purchase of a Manhattan landmark by Middle East investors in as many months. NYT | previously 1 | 2 View full entry
Flush with dollars as oil prices reach record heights and remain there, Middle East economies are looking at newer ways to invest their money, and prime American real estate is their latest target.Domain-B.com View full entry
Sun Microsystems co-founder Bill Joy has never lived in the 176 Perry Street triplex he bought for $17.57 million five years ago, but it still may go down as the best home he ever owned. That's because Joy is looking to get a whopping $40 million for the 11,000-square-foot slab of Richard Meier minimalism, a nice profit even after hiring Meier to also design the interior. — Curbed
Curbed shows us what $40mil will get you in NYC's Meier-designed Perry tower. View full entry
