With Big Real Estate in China struggling, how will the fortunes of developer's parent Greenland Group be factored into the analysis of Atlantic Yards finances?

Big Real Estate in China is struggling. 

From the New York Times today, China’s Biggest Homebuilder Reels as Economy Slows, with the subheading, "Once considered a survivor of China’s real estate turmoil, Country Garden is now at the center of the crisis and threatens the broader economy."

Also from the Times today, "Country Garden Makes $22.5 Million Payment, With $15 Billion To Go," with the subheading, "The embattled Chinese property giant is said to have avoided default by meeting a deadline to pay interest on small loans. But it must repay billions within the next year."

What about Greenland?

Greenland Holding Group. (aka Greenland Holdings or Greenland Group), the parent of Atlantic Yards/Pacific Park master developer Greenland USA, isn't in quite as bad shape, but as I reported last month, it plummeted to #205 from #125 on the Fortune Global 500, as profits have diminished, debts mounted, and its credit rating falling.

Its stock is trending down, to 2.85 yuan, not its lowest point in the last year, but closer to the 2.55 low point than the 3.68 high point.

One looming question is how much the crisis will spread.

Another is whether, when assessing the financial future of Atlantic Yards/Pacific Park, how much and how well the fortunes of the parent company will be factored in.

Remember, the advisory Atlantic Yards Community Development Corporation has asked the parent Empire State Development, the state authority that oversees/shepherds the project, for a financial analysis of the project, as I reported last month for City Limits. That report is due Oct. 3.