Real Estate Weekly
Image default
Deals & Dealmakers

Fosun rebranding 2M s/f Liberty Street tower

28 Liberty
28 Liberty

Fosun Property Holdings, has announced that One Chase Manhattan Plaza will be rebranded 28 Liberty effective as part of a major repositioning of the building.

The 60-story, 2.2 million-square-foot class-A office tower began leasing under the new 28 Liberty identity this month. It has one million square feet of modern office space for new tenants. JLL is the leasing agent for the property.

“The choice of 28 Liberty as the building’s name reveals Fosun’s deep respect for the history of the property and the culture of Lower Manhattan,” said Guo Guangchang, chairman of Fosun International.

“We are committed to the New York market, and we are dedicated to positioning 28 Liberty as a world-class destination for local and international businesses alike.”

Fosun has made a long-term commitment to 28 Liberty and the surrounding community. Since acquiring the building in December 2013, the company has initiated a comprehensive renovation, including the lobby, elevators, critical infrastructure and plaza.

Fosun also has introduced free Wifi service for the convenience of visitors to the building’s 2.5-acre plaza.

The redeveloped property will accommodate more than 200,000 s/f of high-end retailers to provide service for the tenants, local residents and working professionals nearby, and the plaza will be activated to become an amenity to the neighborhood.

Numerous considerations went into the name choice for the property. Liberty is a shared value among all cultures, and the landmark office tower, an architectural icon that offers spectacular views of the Statue of Liberty, stands on the Liberty Street.

The number 28 is numerically significant in Asian culture, meaning “double prosperity,” or “double fortune.” Its use as the building name and the address also highlights how the property connects the Asian and American cultures.

“We are honored to be associated with this historic property at the heart of Lower Manhattan,” said Bo Wei, chief representative of Fosun in the U.S. and vice president of Fosun Property Holdings.

“We will re-energize the building and further position it as an asset to the community as well as provide a platform to bridge the U.S. and China, or even the global economy; while at the same time we honor its legacy as landmark of timeless design.”

“This property is ideally located in a transportation hub and offers immediate access to the best of Manhattan and surrounding areas,” said Erik Horvat, managing director of Fosun Property Holdings.

“28 Liberty is an incredible opportunity for tenants in the TAMI (Technology, Advertising, Media and Information) sector and beyond that are seeking to take advantage of the momentum toward Lower Manhattan.”

Fosun purchased the building as part of an ongoing expansion of its global presence in major financial centers.

In addition to One Chase Manhattan Plaza, Fosun’s recent global real estate sector acquisitions included the Citigroup Center building and Shinagawa Seaside Park Tower in Tokyo via its Japanese real estate management firm IDERA, and the Lloyds Chambers building in London.

One Chase Manhattan Plaza, designed by Gordon Bunshaft, was once the headquarters of Chase Manhattan Bank.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando