Chase Manhattan Plaza Fetches a Hefty Price

Source:  Business Journals

JPMorgan Chase & Co. has agreed to sell 1 Chase Manhattan Plaza in lower Manhattan to Chinese investment company Fosun International Ltd. for $725 million. JPMorgan (NYSE: JPM), which occupies about half the 60-story, 2.2 million square-foot building, plans to relocate about 4,000 employees to other New York locations, Bloomberg said, citing a company spokesman. The landmark 1 Chase Manhattan Plaza was built by David Rockefeller and designed by architect Gordon Bunshaft in the 1950s. ...

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