60 Wall St. is put up for sale.The real estate shuffle resulting in the merger of J.P. Morgan and Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. appears to have started, with the imminent sale of 60 Wall St., according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a published report. The 47-story, 1.6 million SF Class A building between William and Pearl Streets is considered one of down-town's trophy buildings and could sell for $500 million, according to the report, which first appeared in the New York Daily News New York Daily News Morning daily tabloid newspaper published in New York City. It was founded in 1919 by Joseph Medill Patterson and his cousin Robert McCormick as a subsidiary of the Tribune Co. of Chicago. The first successful tabloid-format newspaper in the U.S. . "60 Wall St. is distinguished for its architectural harmony at the skyline and on the street, an unusual blend of classical and modernist elements, advanced technological capabilities and for the warm and welcoming presence it provides in historic downtown Manhattan," states a Costar Group CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of description of the property. A call to Morgan Guaranty Trust Company, the current owners of the building, regarding the pending sale was not returned. The completion of the merger late last year led some analysts to predict some changes in the real estate scenario for the new company J.P. Morgan Chase. After the merger Chase signed several large lease deals in midtown, including a 580,000 SF deal at 245 Park Ave. and a 1.2-million SF deal to sublet sub·let tr.v. sub·let, sub·let·ting, sub·lets 1. To rent (property one holds by lease) to another. 2. To subcontract (work). n. space at 277 Park Ave. from Donaldson, Lufkin, & Jenrette. In November, Chase completed the sale of one of its buildings at 510 Fifth Ave. to Tahl Propp Equities. The five-story, 70,00 SF building sold for $22 million. According to Costar, Morgan Guaranty Trust Co. also owns 15 Broad St., a 25-story, one million SF Class A building; 37 Wall St., a 25-story, 370,000 SF Class A building; 522 Fifth Ave., a 23 story, 560,000 SF Class A building; and 562 Fifth Ave., a 12-story, 45,000 SF Class B building. The Wall Street buildings and the Broad Street building are occupied mostly by J.P. Morgan employees. Chase Manhattan Bank owns One Chase Manhattan Plaza One Chase Manhattan Plaza is a banking skyscraper located in the downtown Manhattan Financial District of New York City. Construction on the building was completed in 1961. , a 60-story, 2.2 million SF Class A building; 4 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Plaza between Water and South Streets, a 23-story, 790,000 SF Class A building; 230 Second Ave., a three-story, 12,000 SF Class C building; 270 park Ave., a 52-story, 1.5 million SF Class A building; and 349 Fifth Ave., an eight story, 47,000 SF Class B building. The J.P. Morgan building at 60 Wall St. still houses about 5,000 employees of the combined company, but company officials have not said they will be moved to another location. |
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