CFIUS Set to Seize Control of Chinese Real Estate


Amid the US-China trade war, the administration of Donald Trump, is preparing to seize for reasons of national security a controlling stake in a 575,000-square-foot New York building that is owned by a Chinese conglomerate, the New York Post reported.

This building on 850 Third Avenue is owned by NHA, a debt-ridden Chinese company, which is under the close attention of US authorities “for reasons of national security”. The conglomerates is reportedly including high Beijing officials

“This [decision] is coming from the White House,” a NYT source said.

In particular, the building accommodates on the first floor on the south wing the 17th NYPD Precinct. Officers from this precinct, from time to time, provide protection for Trump Tower, the material says.

Sources say that the 58-year-old building once removed from Chinese hands, would be placed in a trust, and ultimately sold.

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