JPMorgan Nets $725M In Sale Of Chase Manhattan Plaza

Law360, New York (October 18, 2013, 1:47 PM EDT) -- Fosun International Ltd. has acquired 1 Chase Manhattan Plaza from JPMorgan Chase & Co. for $725 million, the Chinese firm announced Friday, marking the second major Chinese investment in a New York property in the last week.

Fosun, one of China's largest developers, set its sights on the 60-story, 2.2 million-square-foot office building in part because of its location in downtown Manhattan near the World Trade Center and the Fulton Street transportation hub, which is currently under construction.

In connection with the deal, JPMorgan Chase will...
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