JPMorgan drops nearly $250M on Midtown rentaltower 

JPMorgan just bought a Midtown rental building for nearly $250 million.  Barings, fund manager for the insurance company MassMutual, sold the Riverbank building at 560 West 43rd Street for $243.5 million, according to property records. Commercial Observer first reported the news.   The deal comes in at $627 per square foot for the 388,073-square-foot building, which rises 44 stories and spans a whole block.   The sale was negotiated by a team from JLL Capital Markets. That group included senior managing directors Jeffrey Julien, Rob Hinckley and Andrew Scandalios, alongside managing director Steven Rutman and vice president Devon Warren. The Midtown building […] This article originally appeared on The Real Deal. Click here to read the full story.