Chapter 816 - Acquisition for the Empire State Building completed
Chapter 816 – Acquisition for the Empire State Building completed
Early March. Master Lu had gone over to Fujian, and Feng Yu returned to New York from Hong Kong. It was one week earlier than planned. This was because Feng Yu received news that the Empire State Building is ready for transaction.
Feng Yu does not know Hideki Yokoi did to make Kiiko Nakahara agree to sell her shares of the building to Feng Yu. But Kameda Masao said that Hideki Yokoi had given up many of his assets in the US and Europe in exchange for this. After this transaction, Hideki Yokoi will sever all ties with Kiiko Nakahara.
From now onwards, Kiiko Nakahara will have nothing to do with the Yokoi family. Kiiko Nakahara will get most of Hideki Yokoi’s assets. She will sell off all the assets in the US and move to France. Her assets in Europe will be sufficient for her and her husband for the rest of their lives.
Donald Trump also managed to get rid of those two long term tenants from the Empire State Building. He regained control over the building.
Although Trump had used some underhand methods, like cooperating with the other tenants to force those tenants out, spread rumors about them, etc., Kiiko Nakahara still paid those tenants for them to cancel their lease.
The Empire State Building is no longer the tallest in the US. It is not as significant as before. Kiiko Nakahara, Trump and the rest of the tenants requested for a major renovation of the building. But according to their contracts, they have to share the cost. The property market at this time was not doing well and they refused to pay for it.
Feng Yu was satisfied with the final decision. He will take over all the rights of The Empire State Building. Even the renovated the building, he will not lose money.
The price for the building was 100 million USD. Because Trump wanted 5% shares of it, Feng Yu paid him 45 million USD and lend him 50 million USD. Feng Yu also paid Kiiko Nakahara and Hideki Yokoi 40 million USD for their 50% shares.
Feng Yu sold some of his shares to raise 200 million USD. If he had sold the shares before Lunar New Year, his profits would be 20 million USD lesser. He returned Fu Guangzheng the money he borrowed and transfer the rest into his personal account. He decided to buy a house in New York.
The former management company of the Empire State Building was Trump’s company, and it was renamed as Wind and Rain Empire State Building Management Company. Feng Yu is the owner of the company and he owns 60% shares of it. Kirilenko paid Feng Yu some money and got 35% shares. Trump’s share is 5%.
Based on their agreement, Trump will have to manage the building for free over the next 5 years. This will save a lot of trouble for Feng Yu. Feng Yu first decision after he acquired the building was to pool a sum of money to renovate the building. His only requirement was to make the Empire State Building the most comfortable office building.
Trump used the money he got from selling his shares in the Empire State Building, and whatever he borrowed from Feng Yu, to buy a building he had been eyeing. He also bought a hotel. The hotel will be renamed as Trump Hotel.
Of course, Feng Yu also gave some of the Sixth Sense Company’s shares to Hideki Yokoi’s sons. He increased the number of shares from 10 million USD to 13 million USD. Even after he gave Hideki Yokoi’s sons more shares, he did not make any losses as he had saved 10 million USD when he bought the shares from Hideki Yokoi and Kiiko Nakahara.
Furthermore, this was a small price to pay for the building. Feng Yu will also get two management staff for his Sixth Sense Company.
“Cheers! Feng, we really bought the Empire State Building!” Kirilenko said excitedly.
“Hahaha, although it is slightly expensive, Trump said that the rents will increase after the building is renovated. We will recover the renovation cost within 2 years.” Feng Yu took a small sip of his wine and placed his glass down.
Rents in the US cannot be increased as and when the landlord wants. There are regulations and there is an upper limit. Luckily the valuation of the building had increased and let them have a higher upper limit.
In the past, the Empire State Building has lots of empty office spaces. After the Empire State Building confirmed that they will be renovating the building, many companies contacted Trump to express interest in renting office spaces there.
The US economy is improving and New York, the US financial hub, is a popular spot for many companies. The rental at the Twin Towers is too expensive. The other office buildings were not well maintained. Only the Empire State Building’s rent was reasonable, and it will be renovated. This made the Empire State Building the top choice for the companies.
Even some of the tenants at the Twin Towers wanted to shift to the Empire State Building after the renovation. It was cheaper to rent office spaces there.
“We can see many of New York’s landmark when we stand at the rooftop of the Empire State building. This feeling is great!” Kirilenko had a satisfied look on his face.
Feng Yu looked at him from the corner of his eyes. Damn! Feel great? Try going up on a windy day!
Feng Yu had gone up the rooftop before. But it was a windy day. It was not that cold on the ground floor, but at the roof, the wind was so strong until he cannot open his eyes!
“Fine. The top floor will be reserved for your company. You can go up to the rooftop when you have nothing to do.”
If you are not afraid of the cold winds, you can go up there every day.
“Eh, what did you do to make them sell you the building?” Kirilenko was curious. His men had approached Kiiko Nakahara and Hideki Yokoi before, but they refused to sell their shares of the building.
Feng Yu told Kirilenko about Hideki Yokoi’s family feud. He only gave them some of his company’s shares and got the right to buy the building.
Feng Yu really admire Hideki Yokoi. He is a cunning fox and has lots of tricks up his sleeves. Maybe this was what Hideki Yokoi wanted from the start. If not, how is it possible for him to make Kiiko Nakahara sell her shares to Feng Yu in such a short time? The selling price is even 10 million USD cheaper than the market price.
Hideki Yokoi transferred his assets to his two sons and daughter. He took a sum of money to ensure his company can operate smoothly. The rest is used to “pay” the prison in exchange for a better life during his time there.
“Feng, you are so smart. Why didn’t I think of this? After the top floor is renovated, I will move out of the Twin Towers. Having our offices in our own turf is more comfortable.” Kirilenko swirled his wine glass and said. Successfully acquisition of the Empire State Building is a joyous occasion that calls for a celebration.
“Boss, look at these newspapers!” When Kirilenko and Feng Yu were celebrating, Wilson rushed in with a newspaper.