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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.