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One Chase Manhattan Plaza Gets New Name, Makeover


Fosun International, the Chinese real estate investment firm that bought One Chase Manhattan Plaza in late 2013, plans to add 150k SF of new retail space and change the iconic building’s name to 28 Liberty, the Wall Street Journal reports. The makeover will cost between $100M and $200M and office rents will be comparable to those in 1 World Trade Center. Origin of the new name: The building’s views of the Statue of Liberty, and the association of the No. 8 with prosperity Chinese tradition, according to WSJ. But in American tradition, the word liberty sounds like making tons of money.