Skip to comments.Bush Family Friend & UAE Sultan Sulayem's Purchase of Helmsley above Grand Central Terminal
Posted on 02/27/2006 4:26:48 PM PST by Brian_Baldwin
Dubai investment group buys midtown landmark
Friday, November 11, 2005
By Aleksandrs Rozens
NEW YORK - A Dubai-based investment firm Thursday said it has purchased 230 Park Avenue, a 34-story office high-rise in midtown Manhattan. The property, commonly known as the Helmsley Building, sits above Grand Central Terminal's underground commuter train and subway complex.
The buyer, Istithmar PJSC, purchased the building for $705 million. The seller was 230 Park Avenue Investors LLC, of which Robert Bass of Fort Worth Texas is a lead investor.
Current tenants include ING Baring, Tokio Marine and the Bank of Argentina. The building may get a new name that makes reference to the building's new owners. Istithmar's purchase was financed by Credit Suisse First Boston. The Dubai investment company paid less than 20 percent of the purchase price as a down payment.
This is Istithmar's first investment in the U.S. commercial-property market. The firm recently purchased a site in London's Trafalgar Square and has looked at properties in Paris.
Mark the name, Sheik Mohammed Bin Rashid Al Maktoum, and we now have New York Citys Grand Central Station subject to Arab terrorist infiltration with the recent purchase of the Helmsmen Building by a Dubai-based investment firm owned by the Emirates royal family. The lead investor is Robert Bass - a close Bush family friend out of Fort Worth Texas. Bass joined Istithmar PJSC executive chairman and buyer Sultan Ahmed bin Sulayem in consummating the November 10 purchase of the midtown Manhattan office building. This building sits above Grand Centrals terminal and the underground commuter train-subway complex hub.
Microsoft has sent many engineers over to Dubai, as well as analysts from Harvard Law School, and they are quickly learning that the United States has very few friends over there - and thats the fact and can be confirmed by anyone in the know in IT (Information Technology). The Terrorism Research Center reports in 2004:
Osama bin Laden's operatives still use this freewheeling city as a logistical hub three years after more than half the Sept. 11 hijackers flew directly from Dubai to the United States in the final preparatory stages for the attack. The recent arrest of an alleged top al-Qaida combat coach is the latest sign that suspected members of the terrorist organization are among those who take advantage of travel rules that allow easy entry. Citizens of neighboring Gulf states such as Saudi Arabia can come to Dubai without visas, which other nationalities can get at the country's ports of entry. Once here, it's easy to blend in to what has become a cosmopolitan crowd.
We know from the SOUTH ASIA INTELLIGENCE REVIEW in 2003:
"How easy it was for Al-Qaida's bankers to have five hundred thousand dollars wired from a bank in Dubai for anonymous use in automatic teller machines in Florida and Maine. - Lord Robertson, Secretary General, NATO, April 17, 2002.
Today (New Delhi, February 27) the CBI (the intelligence agency of India, Central Bureau of Investigation ) is today sending to Abu Dhabi seeking deportation of terrorist and criminal don Dawood Ibrahim and his two other associates for their roles in the 1993 Mumbai (Bombay) bombings in India and criminal nexus with gutkha manufacturers, the Home Minsitry of India would allow the CBI (Central Bureau of Investigation) to send fresh Letters Rogatory (LR) to Abu Dhabi requesting for deportation of the three involved, the LR sent to Dubai (United Arab Emirates).
No, there are too many ways that the new media can get to the facts, facts that Bush wouldnt bother to even look at until he first heard of the port deal four days before it was to go forward. The problem with the Bush Administration - a problem this Administration itself admitted in relation to Katrina - is managing information. This guy was running around with a sombrero on his head hob-knobbing with Vicente Fox in the months and weeks before 911, all the while many conservatives yelling that Osama bin Laden hit the Trade Center buildings once but didnt finish the job and will be back for more. But no, Bush couldnt manage information then, and he cant now. This is the failure his Administration and his Presidency. We are all suppose to be Hush-Limbaugh and hush up and not say anything and make jokes. Well, Hush Limbaugh isn't funny. Glenn Beck - now that's a talk show host who is funny. Beck is funny. Hush plays golf and, what was he doing the days, weeks, months before 911? Dropping pills? No. Hush isn't funny.
Well, if they wanted to infiltrate Grand Central Station, they didn't need to buy a nearby building. They could just walk in like everyone else.
Guaranteed, that's the only building that's safe from terrorists. Unless, they can get an insurance policy against such acts...
I'll have one of what you're having. Make mine a double so I can catch up.
Pass the crack(pot) pipe?
Grist for insomniacs.
Let them buy all the hotels they want. They can bid on General Motors, too.
Geez...if one BS argument doesn't work try another.
You must be his mother.
Call Rush, ask him to explain it to you.
Reads like a sleeper disruptor.
I did...the one where he tries to claim that the President and Limbaugh are hurting troop morale. This kind of BS is hurting troop morale.
Maybe another Baldwin brother?
Thanks for your sanity. I couldn't agree more.
That site looks about as kooky than LewCrockwell.
"I wish people would open their eyes. I can't believe I'm seeing Conservative people defend all this. I just don't get it. What is wrong with everybody.
Amen to that!
I'm not going to make a comment, but I agree with your post.
Go away troll.
As in Leona Helmsley, the notorious Queen of Mean?
Yes, we are at war, which is why we have to look rationally at creating strategic partners. IF you look at he issue by the MSM talking points, it looks really bad, however, if you look at the real terms of the issue, you will find virtually none of that the MSM is baiting people on is true.
Gotta be a crazy uncle.
LOL -- in the Baldwin gene pool for sure.
What I particularly like are the suggestions that we need good allies...and, I guess, should trust principalities that are true (as they should be) to their religion.
I know this building. For most of my career, I either changed subway lines underneath it or caught a train to Connecticut upstairs. It is in the real heart of NYC.
Politics aside, this stinks!
I think Bass is a "daddy's money democrat".
"Politics aside, this stinks!
And I agree.
I make a stop daily at Grand Central on my way to work near City Hall/Pace University.
Naturally those who do not ride through Grand Central don't give a hoot.
It is good to see all of this come to light. Now, I think Chucky, The Swimmer, Shillary and all of the @$$ kissing liberal enablers should all go hide in a hole.
Good eye, Ben.
I noticed the title right away, and to be honest, I didn't waste my precious time reading the rant -- I merely scanned it.
You are a rational person. Why are you afraid to use GCS?
Welcome to FR. Hang tough, your opinion is valued here. There are a lot of cranky people here (I am guilty of that myself from time to time), but they are good hearted, and, for the most part, in search of the truth.
Not if there's a buck to be made, evidently.
Cheney purchasing a farm to raise camels!
Here is another interesting issue.
"There is Dubai's Sheik Mohammed bin Rashid al Maktoum.
Al-Maktoum, Defense Minister of the United Arab Emirates, is also Crown Prince of Dubai-an Arab Muslim country that strongly supported and recognized Afghanistan's Taliban, one of only three countries to do so. According to "From the Desert to the Derby," by Jason Levin, 10 of the 19 September 11th hijackers carried documents and identification from Dubai, a country which also has no laws against money-laundering. Why? Maybe, because money to fund September 11th's terrorism was laundered to ringleader Mohammed Atta, directly from Dubai's banks."
The UAE is not America's friend. The UAE banking system funneled the cash for the 9-11 attacks. The UAE covered for Osama Bin Laden. The UAE has given refuge to terrorists. The U&AE citizenry are comprised of Islamic "jihadists" and Islamofascists. The US may need the UAE as an ally OVER THERE. No need to invite anymore of them OVER HERE.
"1995-2001: Persian Gulf Elite Go Hunting with bin Laden in Afghanistan Complete 911 Timeline
After the Taliban takes control of the area around Kandahar, Afghanistan, in September 1994, prominent Persian Gulf state officials and businessmen, including high-ranking United Arab Emirates and Saudi government ministers, such as Saudi intelligence minister Prince Turki al-Faisal, frequently secretly fly into Kandahar on state and private jets for hunting expeditions. [Los Angeles Times, 11/18/01] General Wayne Downing, Bush's former national director for combating terrorism, says: They would go out and see Osama, spend some time with him, talk with him, you know, live out in the tents, eat the simple food, engage in falconing, some other pursuits, ride horses. One noted visitor is Sheik Mohammed ibn Rashid al Maktum, United Arab Emirates Defense Minister and Crown Prince for the emirate of Dubai. [MSNBC, 9/5/03] While there, some develop ties to the Taliban and al-Qaeda and give them money. Both bin Laden and Taliban leader Mullah Omar sometimes participate in these hunting trips. Former US and Afghan officials suspect that the dignitaries' outbound jets may also have smuggled out al-Qaeda and Taliban personnel. [Los Angeles Times, 11/18/01] On one occasion, the US will decide not to attack bin Laden with a missile because he's falconing with important members of the United Arab Emirates' royal family (see February 1999)."
"Why are you afraid to use GCS?
I commute daily through GCS and it's only normal to be worried when one reads stories such as these.
I'm fed up with the Globalists. I've heard all your arguments. You had better open your eyes. This is our nation.
I understand. Be safe.
The Bass Family and the Bush family go back a long ways...
Robert Bass was one of President Bush's Team 100 members. I think he also invested in the Rangers when that deal was put together.... Also you'll find lots of 'tin foil' stuff with several oil investments involving the President.
Heck when you are a billionaire you have to invest in something.
That still doesn't make him a partner with the Sultan, unless the AP got the facts wrong.
"completely clouds anyone from thinking about the strategic interests behind the deal..."
That my dear, is the only thing that was right in your post.
230 Park Avenue is sold for $705m.
From Real Estate Weekly: Oct 19, 2005 issue
Monday Properties may not have triumphed in its bid to purchase 230 Park Avenue, which was sold this week for $705 million to Dubai's crown prince Sheikh Mohammed Bin Rashid Al Maktoum, but it may still get an equity interest.
The firm, along with real estate securitization company Island Capital, acted as advisors to the Sheikh in the tightly contested bid for the 1.4 million s/f property and both could be given an ownership interest by the time the sale closes, sources familiar with the deal say.
Contrary to published reports, the Sheikh currently is the sole purchaser of the asset.
Monday has been the manager and leasing agent for 230 Park Avenue since 1999 when real estate investor, Robert Bass, purchased the property for $250 million.
Bass, who was the seller in the recent transaction, sold nearby 237 Park Avenue to Monday Properties in 2003, and it was no secret that Monday desired 230 Park Avenue as well. But when the property's price climbed into the stratosphere and out of Monday's range, the firm used its relationship with Bass and intimate knowledge of the asset to help give the Sheikh the inside track, according to sources.
In addition to its potential ownership stake, Monday Properties will continue to operate 230 Park Avenue.
The building is home to several high profile financial tenants, including insurance giant, Swiss Re, and investment bankers, ING.
The Sheikh has been an active investor in the US recently. In July his Dubai Holdings Group purchased the 605-room Essex House hotel in Manhattan for $400 million. Earlier this year, DIG, an affiliate of Dubai Holdings, became one of the largest residential property owners in the US with its purchase of a $1 billion multi-family portfolio in partnership with The Milestone group.
CBRE's Darcy Stacom and Bill Shanahan handled the sale for Bass.
That still doesn't make him a partner with the Sultan, unless the AP got the facts wrong.
Here is the Sheik in Dubai consorting with a shady character.
They are looking over a couple of chics they are interested in.