Sanwa Bank this week became the latest Japanese institution to unload a high profile U.S. property, announcing the sale of a million-square-foot New York office tower for $128 million, or about 36% of the original loan amount.

The property, Financial Square, is a state-of-the-art facility for banks and brokerages that was seized from developer Howard Ronson in 1990 after he defaulted on a roughly $350 million loan. The building remains 40% vacant.

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