Bush41 will be happy to hear the Carlyle Group is adding NYC real estate to its portfolio.
http://www.nytimes.com/aponline/business/AP-Trump-Land-Sale.html? June 1, 2005 Trump, Investors Sell Property for $1.8B By THE ASSOCIATED PRESS Filed at 3:09 p.m. ET NEW YORK (AP) -- Donald Trump and a group of investors plan to sell a parcel of Manhattan riverfront land and three buildings for $1.8 billion, the biggest residential sale in city history, a source familiar with the matter said Wednesday. The land, the former site of a rail yard, will be sold to the Extell Development Corp. and Carlyle Group, said the source, who spoke to The Associated Press on condition of anonymity because the deal is not final. Details of the transaction were reported in Wednesday editions of The New York Times. The 77-acre parcel of land stretches from 59th to 72nd streets on the Upper West Side of Manhattan, along the Hudson River. The area is known as Riverside South or Trump Place. Extell is buying the three rental buildings on the side, plus lots to build eight more apartment houses, the Times reported. Four condominium buildings at the site are not part of the deal, the newspaper said. Representatives of the Trump Organization, Extell and the Carlyle Group either could not immediately be reached or said they had no comment on the Times report. The rail yard property has a troubled past: Trump had gained control of it in 1974 and again in 1982, both times frustrated by intense community opposition to his plans to develop there. A group of Hong Kong and Chinese investors paid $82 million in 1994, when Trump was in debt, for a $300 million mortgage on the land. Development of the apartment buildings started in 1997. News of the sale brought expressions of relief from Trump's critics. ''Even though they're paying an exorbitant price in this overheated market, we hope the new owners will be more responsive to the community,'' Madeleine Polayes, a leader of the Coalition for a Livable West Side, told the Times. The deal reflects a red-hot real estate market in Manhattan. The average price of a condominium has soared to $1.2 million, the Times reported. ------------------------ Yahoo! Groups Sponsor --------------------~--> Take a look at donorschoose.org, an excellent charitable web site for anyone who cares about public education! http://us.click.yahoo.com/_OLuKD/8WnJAA/cUmLAA/TySplB/TM --------------------------------------------------------------------~-> -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: osint@yahoogroups.com Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
