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May 30, 1996|Times Staff and Wire Reports

Judge OKs Transfer of Rockefeller Center: A Bankruptcy Court judge approved the transfer of New York's landmark Rockefeller Center from its Japanese-controlled owners to the company holding the $1.3-billion mortgage on the property, home to the NBC-TV network broadcasting studios and Radio City Music Hall. The move concludes Mitsubishi Estate Cos.' seven-year association with the Art Deco midtown Manhattan office and retail complex, which has become known as the worst blunder by a foreign investor in U.S. real estate. Mitsubishi's loss was more than $2.3 billion. It also paves the way for a group of investors led by investment bank Goldman, Sachs & Co. and Rockefeller family patriarch David Rockefeller to take over ownership.

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