Chase to sell 4 New York Plaza at $99/psf

December 17, 2009 09:58AM

JPMorgan Chase is in contract to sell 4 New York Plaza for $108.9
million, or $99 per square foot, the Post reported. The buyers of the
23-story, 1.1 million-square-foot building are Harbor Group
International, a real estate company based in Norfolk, Va., and Josh
Zamir’s Capstone Equities, which owns and operates more than 8 million
square feet, Including 14 Wall Street and 156 William Street. An e-mail
written by Zamir and obtained by the Post revealed that JPMorgan, which
had also been previously looking to sell One Chase Manhattan Plaza,
would lease back 75 percent of the building at Broad and Water streets
for 15 years. The bank is hoping to collect $1 billion total on the
sale of a portfolio of 23 office buildings in eight states. [Post]

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