The Chinese sovereign wealth fund, China Investment Corp., has paid $700 million for a 49 percent stake in 1 New York Plaza. Located in the Financial District, the 50 story, 2.6 million sqf tower is valued at roughly $1.4 billion. Toronto-based Brookfield will retain the remaining 51 percent controlling stake in the office building as well handle the building’s leasing and management. Major office tenants in the building include law firm Fried Frank and investment bank Morgan Stanley.
