Fosun signs first major tenant at 28 Liberty Street

Insurance firm Ironshore taking 100K sf at former 1 Chase Manhattan Plaza
April 14, 2015 05:00PM

Chinese investment firm Fosun scored its first major tenant at its office building at 28 Liberty Street, formerly known as 1 Chase Manhattan Plaza.

Ironshore, an insurer that Fosun acquired a 20 percent interest in last August, has signed on for 100,000 square feet at the 60-story, 2.2 million-square-foot building in the Financial District.

The asking rent was at least $80 per square foot, according to Crain’s. The deal is Fosun’s first major lease at 28 Liberty Street since the company purchased the building from JPMorgan Chase for $725 million in October 2013.

Ironshore will relocate to three floors in the building from its current 50,000-square-foot space at 1 State Street, also in the Financial District.

A JLL team and Fosun executive Erik Horvat represented 28 Liberty Street. Newmark Grubb Knight Frank broker Neil Goldmacher represented Ironshore.

Fosun recently revealed renovation plans for the 54-year-old tower. [Crain’s] – Rey Mashayekhi