June 29, 2020 Comments (0) Views: 468 Midtown New York, New York News

JPMorgan Chase Finalizes Deal for Bank of China HQ

Order Reprints...

JPMorgan Chase has closed on its acquisition of 410 Madison Ave. from Bank of China, according to public records. Chase paid $115 million for the 58,395-square-foot property at the corner of Madison Avenue and East 48th Street, a June 26 filing with the city’s Department of Finance shows.

The property went under contract in March of 2019 for $100 million, according to published reports. Bank of China had maintained its U.S. headquarters at 410 Madison for about 35 years, but began seeking a buyer soon after relocating its offices to 7 Bryant Park in 2017.

Chase, which is demolishing its own headquarters at 270 Park Ave. and building a new, taller tower on the site, reportedly has moved some of its employees into 410 Madison. The property is just a block away from 270 Park.

Image of 410 Madison Ave. courtesy of acronson/Wikimapia.

Connect With JPMorgan Chase


Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.

Send this to a friend