New York, April 29, 2015 — Fosun Property announced that it will co-develop with JD Carlisle LLC, an 800-foot, 47-story luxury residential condominium tower located at 126 Madison Avenue in Manhattan’s NoMad (north of Madison Park) neighborhood, an area evolving into one of the hottest residential and hospitality venues in the city.

The residential tower is Fosun’s first ground-up development project in the U.S, and is a milestone in the company’s global investment initiative. This follows Fosun’s acquisition of 28 Liberty, formerly known as One Chase Manhattan Plaza, a 2-million square foot, landmarked class-A office tower in Lower Manhattan which was rebranded earlier this year.

Neighborhood of Empire Building

The 350,000 square foot residential tower, located at 30th Street and Madison Avenue, will offer luxury condominiums and is currently in the design and planning stage. The project is close to multiple subway lines and offers remarkable access to transportation. It is designed by Handel Architects with interiors by Gachot Studios, and will provide a unique Manhattan residential experience with generous amenities, including a 75 square-feet swimming pool, many spa services, a fitness center as well as entertainment spaces. The proposed building offers unsurpassed 360-degree views, and its unique design offers corner living rooms in every unit.

Opinions

Mr. Xu Xiaoliang, Vice President of Fosun, President of Fosun Property said, "This strategic partnership with JD Carlisle enables Fosun to expand and diversify its global real estate holdings."

Jules Demchick, Chairman of JD Carlisle said, "The opportunity to work as joint venture partner with an entity that has the international reach, proficiency and global experience of Fosun is exciting."

Mr. Alex Gong, Executive President of Fosun Property said,"Fosun is confident that this property will be viewed internationally as another iconic New York City tower."

About JD Carlisle LLC

JD Carlisle LLC has earned a reputation for being a thoughtful and decisive real estate developer – a winning combination that has resulted in properties of distinction. Their other New York residential properties exemplify this approach. Recent developments include: The BEATRICE, luxury residential units; CENTRIA, luxury condominiums, located across from Rockefeller Center; CIELO residential condominiums on the Upper East side; MORTON SQUARE, condominiums in Manhattan’s West Village – to mention a few.