Jackie Chan’s Beijing condos head to auction amid dispute between developers

first_imgTagsauctionsCelebrity Real Estatechina Jackie Chan and the building (Credit: Andrew Chin/Getty Images, and NICOLAS ASFOURI/AFP via Getty Images)Jackie Chan has found himself in the middle of a dispute between two real estate companies, and it might cost him his Beijing condos.Chan’s two units in Beijing’s Dongzhimen district have been seized via court order, and are up for auction to recoup money owed by developer Yujia Real Estate to Tenhong Real Estate, according to Variety.Chan paid about $4.9 million for the two units in 2007, in a deal that included some promotional work for Yujia. They total about 13,100 square feet.It appears there was some mistake made in the paperwork to transfer the ownership rights from Yujia to Chan. At the end of the day, the units are still legally owned by Yujia, or at least Tenhong claims they’re Yujia-owned assets.The two companies went to court over a payment dispute, and in July a judge ordered the seizure and sale of Yujia’s assets to recoup that debt. Chan tried to appeal the seizure but failed, according to the Daily Mail.The two condos are reportedly worth about $14.6 million, but bidding is set to start at $10.5 million on September 30, according to Variety.Chan also owns property in Hong Kong, where he was born. He drew the ire of some protesters in his native territory after making comments considered to be in support of the Chinese Communist Party and against the protest movement’s main goals of retaining political independence for Hong Kong from the mainland government. [Variety] — Dennis Lynch Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img Share via Shortlinklast_img read more