NEW YORK CITY-It sometimes takes a long time to settle all the details of a large merger as in the case of the combining of Chemical Bank and Chase Manhattan Bank merger in 1996. The company has announced that 18 former Chase branches have been sold for more than $65 million. A dozen of the properties closed in the last four months; the rest are expected to close in the near future. Included in the disposition were the 65,000-sf office and retail building at 510 Fifth Ave., which was purchased by Tahl-Propp Equities, the 15,000-sf retail building at 940 Madison Ave., which was acquired by four investors and 39-15 Main St., a 35,000-sf office and retail building facility in the commercial district of Flushing, Queens.

The bank is also considering selling and then leasing back several of its other properties. Ten holdings are now being readied for sale as part of the firm’s goal to monetize its non-strategic real estate holdings. The firm is also studying a similar strategy for its excess leasehold assets that pertain to former branch premises.

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