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Japanese Investment

The article about Japanese investments in U.S. real estate stated that commercial real estate in central Tokyo was worth as much as $6.7 billion an acre! Incredible if true. Did she slip a few decimal points?

ROBERT GREENBERG

For the record:
12:00 AM, May. 21, 1989 Clarification
Los Angeles Times Sunday May 21, 1989 Home Edition Real Estate Part 8 Page 2 Column 3 Real Estate Desk 1 inches; 32 words Type of Material: Correction
An editor’s note accompanying last week’s Letters gave an erroneous figure for the price of Tokyo real estate. The correct price is $6.7 billion per acre, as stated in Catherine Collins’ May 7 Speaking Out article, not $6.7 million.

Van Nuys

Editor’s note: The correct figure is $6.7 million per acre, according to a report issued by the Japanese government in 1988.

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