Goldman Sachs bought 230 Park Avenue property for $1.15 billion

Just recently this name was on our blog for offering fatty bonuses of $10 million and more. Today Goldman Sachs Group, the world’s largest global investment banks, is back here for news worth billions. They have just bought 230 Park Avenue, New York for $1.15 billion from a property investment fund owned by Dubai’s government. Istithmar World Real Estate sold the property to Goldman’s Whitehall Fund and Monday Properties, the Dubai-based company.

This isn’t the first one sold by Istithmar, as just last month they sold 280 Park Avenue for US$1.35 billion. Although they weren’t keen on selling these two prime properties so soon, the chairman had quoted, “market conditions created an unusual opportunity.” Wonder what determines such weighty changes in this real estate market?