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China's HNA under scrutiny over NYC building near Trump Tower

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China's HNA under scrutiny over NYC building near Trump Tower

The Committee on Foreign Investors in the United States has questioned Chinese conglomerate HNA Group Co. Ltd. over its ownership of a building near Trump Tower in New York City, Bloomberg News reported.

The committee raised concerns about some "unique facts and circumstances" regarding the location of the 21-story office tower at 850 Third Ave., the news outlet said, citing an HNA representative.

The Chinese group said it was taking steps to address the concerns raised, according to the report. The 850 Third Ave. property is home to one of the two police precincts within a mile of Trump Tower.

The New York Post reported Aug. 8 that the Trump administration is poised to seize a majority stake in the 575,000-square-foot building, a report that HNA has denied and described as "grossly inaccurate and misleading," Bloomberg added.

In June, it was reported that HNA and partners MHP Real Estate Services LLC and ATCO Properties & Management Inc. refinanced 850 Third Ave. with a US$342 million loan.