Chase Manhattan Bank is selling a downtown Manhattan skyscraper to the Canadian developer Trizec-Hahn Corp. for $400 million.

The deal for One New York Plaza, a 2.5-million-square-foot office building on the lower Manhattan waterfront, was first reported in the New York Daily News. Sources said Chase could net more than $150 million on the sale. Chase bought the building in 1989 for $143 million.

Both TrizecHahn and Chase declined to comment.

TrizecHahn, based in Toronto, has been buying U.S. office space in recent months. Most recently it closed a $470 million deal with Equitable Life Assurance Society.

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