For Sale: A $2 Billion Tower From the ’60s

Bloomberg, Mar. 19, 2018–David M Levitt
Last year, Chinese conglomerate HNA bought 245 Park Ave., a late 1960s-era building that’s home to JPMorgan Chase & Co., paying one of the highest prices ever for a New York office property. Values have since dropped and HNA faces the challenge of selling a building that’s starting to lose some of its gold-plated tenants and in need of improvements that could cost its new owner more than $1 billion.