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July 18, 1996|Times Staff and Wire Reports

Goldman Sachs Group Gains Title to Landmark: The investment group led by Goldman, Sachs & Co. and David Rockefeller said it has assumed title to New York's Rockefeller Center office and retail complex. In addition, NBC, the complex's largest tenant, completed its purchase of the space it leases there for $440 million. The property, built by the Rockefellers in the 1930s, was placed under U.S. Bankruptcy Court protection in May 1995 by its then-owners, two partnerships controlled by Japan's Mitsubishi Estate Co., which then defaulted on a $1.3-billion mortgage. Members of the Goldman/Rockefeller group include Italy's Agnelli family, which controls Fiat; Greece's Niarchos family, owners of a shipping empire; New York developer Tishman Speyer Properties; and the billionaire Crown family of Chicago. The property remained under the control of the Rockefeller family until 1989, when it sold an 80% stake to Mitsubishi for $1.4 billion.

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