Fosun signs first major tenant at 28 Liberty Street

Insurance firm Ironshore taking 100K sf at former 1 Chase Manhattan Plaza

28 Liberty Street
28 Liberty Street and Fosun’s Guo Guangchang

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.

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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