Deal at 4 New York Plaza Indicates Increased Confidence in Downtown Market
May 29th 2012
Further evidence of the strength of the Downtown market is shown in HSBC’s acquisition of 4 New York Plaza, the home of JP Morgan Chase and Co. The sellers, Harbor Group International are believed to have accepted $270 million for the property – more than twice what they paid for it two years ago. And in acquiring 4 New York Plaza now, global banking giant HSBC is showing confidence that further growth is yet to be found in Downtown.