China’s Largest Commercial Real Estate Firm To Close New York Office

Reports out of New York over the weekend have claimed that the Dalian Wanda Group, China’s largest commercial real estate developer, is to shutter its New York office by the end of November and will run its U.S. operations from Beijing.

Wanda has been running its operations out of an office at RXR Realty and Blackstone Group’s 1330 Sixth Avenue office.

It is not clear why the Chinese giant is leaving New York, or whether the step has any impact on its investments in the city. Sean Muellers, Wanda’s chief U.S. representative, will leave the firm after three years at the end of November.

In 2012, Wanda bought the AMC movie theater chain for $2.6 billion. Last year, it announced a $1.2 billion mixed-use development in Beverly Hills and acquired a development site in Chicago with plans to develop a $900 million mixed-use tower. Unlike rival Chinese developers like Greenland Holdings, China Vanke or Soho China, Wanda has no stake in major New York real estate projects. In 2013, Reuters reported that the firm wanted to build a $1 billion hotel in Manhattan, but the plans apparently never came to fruition.

Wanda like many other Chinese developers has been affected by the recent fluctuations on the Chinese domestic market



Top stories from across the globe

  • The Future of Banking: Truth is Rarely Pure and Never Simple
  • Top Money Manager: «We Avoid Tesla Because of Elon Musk»
  • 1MDB and the Affected Banks: 100 Headlines
  • The Man Who Turned Down Marilyn Monroe
  • The Seven Conditions for Good Succession
  • The (Slow) Death of U.K. Investment Banks

PHOTO GALLERIES Networking Event Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary


Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with – email us on – All communication is completely confidential and strictly anonymous.