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NEW YORK CITY—Chinese investors continue to invest in prime Manhattan real estate and are willing to pay top dollar. The Bank of China Ltd. has reportedly agreed to acquire 7 Bryant Park, currently under construction, for a purchase price that will approach $600 million.

The 470,000-square-foot, 28-story tower is being built by a partnership led by Houston-based development firm Hines and J.P. Morgan Chase & Co.’s asset-management arm, according to the Wall Street Journal. The sale will be completed next year upon completion of the project.

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