No. of Recommendations: 2
The net sifter, on the current value of the land the UN building complex sits on:
The land for the UN Headquarters in NYC was purchased for $8.5 million in 1946, a gift from John D. Rockefeller, Jr., which equates to roughly $100-250 million today (2024/2025 values), but its current market value is immensely higher, considering Manhattan real estate and its iconic, extraterritorial status, though it's not officially for sale.
The Original Transaction:
Gift: In December 1946, John D. Rockefeller, Jr., donated $8.5 million to buy the derelict land along the East River from developer William Zeckendorf.
New York City's Contribution: The city added more parcels, and the U.S. government provided an interest-free loan for construction.
Value at the Time: The $8.5 million purchase price was a bargain, and in today's money, it's worth hundreds of millions.
Current Value & Status:
Not For Sale: The land is not on the market; it's a permanent headquarters for an international body, making its "worth" in traditional real estate terms difficult to pin down.
Extraterritorial: The 18-acre site is technically under UN jurisdiction, though it's not sovereign territory, meaning it's beyond normal U.S. law.
Incalculable: Given Manhattan's extreme property values and the UN's global significance, the land's current market value would likely be in the billions of dollars, far exceeding the original purchase price.
Steve
No. of Recommendations: 1
Kushner will make more than Trump.
Move the UN to Paris. Let the Diplomatic Immunity people meet French chicks. Why should migrants and Swedish women have all the fun?
Spread the wealth - amongst other things.
