HONG KONG—Chinese conglomerate HNA Group on Jan. 9 said it had sold a majority stake in a Manhattan building in a $422 million deal, the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.
HNA did not give details of the buyer, but a spokesman for the group confirmed the verity of a report by U.S. real estate news website Bisnow that earlier reported the sale of 850 Third Avenue and the deal value.
