HSBC, Edge Fund Snap Up Downtown Manhattan Tower

Law360, New York (May 23, 2012, 9:21 PM ET) -- A joint venture between HSBC Alternative Investments Ltd. and Edge Fund Advisors purchased a 1.1 million-square-foot Manhattan tower housing the offices of JPMorgan Chase Bank NA from real estate investor Harbor Group International for an undisclosed price, the firms announced Wednesday.

Harbor Group had purchased the property at Four New York Plaza in 2010 for $107 million from JPMorgan Chase & Co., which then leased back 75 percent of the property on a long-term lease. Harbor Group then signed media companies Daily News LP and American...
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