Real Estate Weekly
Image default
Deals & Dealmakers Featured

Fosun looks to sell minority stake in 28 Liberty Street

Fosun International is putting its marquee Manhattan office tower on the market but not in the way many might think.

The Chinese conglomerate moved quickly to dispel rumors that it plans to sell 28 Liberty Street, a 60-story building in the Financial District, outright. However, a spokesman confirmed that Fosun is seeking to sell a minority stake in the property.

Fosun would remain the majority owner of the 2.2 million s/f tower and keep full control of it for the foreseeable future. It has hired CBRE to market the minority stake in the company.

“The property team with decades of experience will continue to manage the property,” the company said in a statement to Real Estate Weekly. “Fosun will continue to expand its presence in the U.S. and remains open to any business development opportunities.”

Real Estate Alert reported that the company had retained CBRE to sell 28 Liberty on Tuesday. Various other outlets picked up that report, as well.

The multinational company bought 28 Liberty Street, formerly known as One Chase Manhattan Plaza in honor of its former owner, in 2013 and has since renovated the property, adding, among other things, Manhatta, a rooftop restaurant, the Bay Room events space and 200,000 s/f of ground floor retail.

Founded in 1992, Fosun has $85 billion of assets around the world.

Related posts

On the scene

REW Staff

Marriott to buy clock tower at 5 Madison

REW Staff

The first Hudson Yard tower reaches its full height

REW