JPMorgan Buys Air Rights From Midtown Church to Build Its New HQ
St Bartholomew's Church in New York City,
Photographer: Mel Longhurst/VWPics via AP
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JPMorgan Chase & Co. will buy as much as 555,000 square feet (52,000 square meters) of air rights from a landmarked Manhattan church as it prepares to build its new headquarters.
The bank agreed in March to acquire 50,000 square feet of rights from St. Bartholomew’s Church for about $20.8 million, with an option to acquire as much as 505,000 square feet more for $157.8 million, according to a filing the church made late Wednesday in New York state court.