▁occupied ▁by ▁the ▁second ▁Grand ▁Central ▁Palace ▁exhibition ▁hall , ▁which ▁was ▁demol ished ▁in ▁ 1 9 6 4 ▁to ▁make ▁way ▁for ▁ 2 4 5 ▁Park ▁Avenue . ▁The ▁building ▁was ▁previously ▁named ▁for ▁American ▁Tob acco ▁Company , ▁American ▁Br ands , ▁and ▁Bear ▁Ste ar ns ▁at ▁various ▁points ▁in ▁its ▁history . ▁ ▁In ▁ 1 9 8 7 , ▁Bear ▁Ste ar ns ▁signed ▁a ▁le ase ▁for ▁more ▁than ▁ ▁of ▁space ▁as ▁its ▁new ▁headquarters ▁and ▁moved ▁ 3 , 0 0 0 ▁of ▁the ▁company ' s ▁employees ▁into ▁the ▁building . ▁ ▁In ▁November ▁ 2 0 0 0 , ▁J PM organ ▁Ch ase ▁le ased ▁ ▁in ▁the ▁building , ▁creating ▁a ▁corpor ate ▁campus ▁with ▁the ▁company ' s ▁nearby ▁headquarters ▁at ▁ 2 7 0 ▁Park ▁Avenue . ▁ ▁On ▁March ▁ 2 0 , ▁ 2 0 1 7 , ▁Chinese ▁con gl omer ate ▁H NA ▁Group ▁announced ▁a ▁deal ▁to ▁ac quire ▁the ▁building ▁for ▁$ 2 . 2 1 ▁billion ▁from ▁Brook field ▁Property ▁Part ners ▁and ▁the ▁New ▁York ▁State ▁Te ach ers ’ ▁Ret irement ▁System , ▁one ▁of ▁the ▁highest ▁prices ▁ever ▁paid ▁for ▁a ▁New ▁York ▁sk ys cra per . ▁H NA ▁fin anced ▁the ▁ac quisition ▁with ▁a ▁$ 1 . 7 5 ▁billion ▁loan ▁from ▁a ▁cons ort ium ▁of ▁l enders ▁including ▁J . P . ▁Morgan ▁Ch ase , ▁Deutsche ▁Bank , ▁Bar cl ays