Grocon’s $834m NYC deal flops

The deal fell apart after Grocon was unable to raise an additional $US200m capital required to close the Manhattan deal, local reports say.

Grocon's attempt to get into the US has fallen by the wayside after an agreement it had with a midtown Manhattan office building valued at $US775 million ($834m) fell apart, prompting the owner to pull the listing.

Last week the building’s owner, Shorenstein Properties, announced it had withdrawn the Park Avenue Tower from sale because Grocon was unable to close the deal before the exclusivity period concluded.


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