JPMorgan Chase, which is on the verge of reaching a $13 billion mortgage settlement with the Justice Department, has agreed to sell its 60-story office tower at One Chase Manhattan Plaza in downtown New York to China's Fosun International for $725 million. Proskauer Rose is advising JPMorgan on the deal, while DLA Piper is taking the lead for Fosun—the firm's second major real estate deal for a Chinese buyer in recent weeks.
October 21, 2013 at 06:33 PM
1 minute read
UPDATES: 10/22/13, 9:48 a.m. EDT. The names of the lead lawyers from DLA Piper have been added to the eighth paragraph of this story. 10/23/13, 1:10 p.m. EDT. The 12th paragraph now includes the names of the lead in-house attorneys from Fosun.
JPMorgan Chase, which is on the precipice of a $13 billion mortgage settlement with the Justice Department, has sold its 60-story office tower at One Chase Manhattan Plaza in downtown New York to China’s Fosun International for $725 million.
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