LeFrak sells Newport office tower to iStar Financial

The company that built the first new neighborhood on Jersey City’s industrial Lackawanna waterfront is selling a tower there for $160 million.

LeFrak is selling 570 Washington Boulevard, a 380,000 s/f office property in the Newport development to iStar Financial, TRD first reported last week.

The multinational securities company Depository Trust & Clearing Corporation occupies the entire office portion of the building as its headquarters, subleasing the space from J.P. Morgan Chase, which relocated to LeFrak’s 545 Washington Blvd. in 2015.

https://rew-online.com/2019/04/lefrak- ... tower-to-istar-financial/