Bush Dollar Makes it Easy for Arabs and Other Foreigners to Buy up US Landmarks

Treasured New York Skyscrapers may be Sold to Foreign Funds

The iconic Chrysler and Flatiron skycrapers may soon join New York's GM Building as landmarks sold in part to Arab or European investors as the weak dollar spurs property grabs in the Big Apple, reports said Friday.
The 50-story General Motors Building, constructed in 1968 and which includes the Apple Store on Fifth Avenue, has already been sold -- for a record-breaking 2.8 billion dollars -- to US real estate firm Boston Properties, backed by investors from Dubai, Kuwait and Qatar.
The deal, concluded on Tuesday, makes the GM Building the most expensive skyscraper in the United States, according to several reports.

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