Touring the Other World Trade Tower

Eliot Brown/The Wall Street Journal
Construction at New York’s 4 World Trade Center in February. Slide show

Redevelopment of the World Trade Center site is now evident in the Lower Manhattan skyline, mostly with the under-construction One World Trade Center, now more than 90 floors up. But just across the 16-acre site, another tower—4 World Trade Center—is rising just as fast, if not as tall.

The building is slated for completion at the end of 2013, and unlike One World Trade, it’s being constructed by a private developer, Larry Silverstein. View a slide show of the progress.

Video: Final Beam Rises at 4 World Trade in New York

The 4 World Trade Center tower was a step closer to completion Monday when the final steel beam was placed atop the Lower Manhattan building.

Office Tower Sells at More Than Twice 2010 Price

Harbor Group International has sold a 22-story office building at 4 New York Plaza for more than $265 million — more than doubling the $107 million price it paid for the Lower Manhattan tower less than 2 ½ years ago.

Spire’s Antenna Spurs Towering Spat

As construction of One World Trade Center in Lower Manhattan moves toward completion, the building’s owners are sparring with their architects.

Bank of America in Deal to Sell New York Office Tower

CoStar Group
Bank of America has agreed to sell 222 Broadway, a 31-story building in Lower Manhattan.

Bank of America Corp., in its latest move to shed some of its real estate, has reached a deal to sell one of its Manhattan office buildings to an investment group for about $230 million, according to multiple people familiar with the matter.

A team of Beacon Capital Partners LLC, a large U.S. office landlord, and L&L Holding Co., a New York developer, has agreed to buy 222 Broadway, a 31-story building in Lower Manhattan, and lease part of the building back to the Charlotte, N.C.-based bank, the people said. The price comes to just under $300 a square foot, the people said.

Bank of America has been selling some of its real estate holdings as part of an effort to sell off operations it doesn’t consider essential to its business. In February, it reached a deal to sell 100 Federal Street in Boston to Boston Properties for $615 million.

Earlier this year, Bank of America said it was seeking to sell two towers in the Charlotte area, and it tapped Jones Lang LaSalle Inc. to begin seeking buyers for 222 Broadway, a 1960s boxy tower across from City Hall Park.

The sale of the building, which hasn’t yet closed, would give the Beacon venture an ability to find new tenants for the top floors of the building, which the bank would be vacating, the people familiar with the matter said.

Beacon also owns 1211 Avenue of the Americas, which houses the headquarters of News Corp., the parent company of The Wall Street Journal.