New York

GIC Pte Ltd, Singapore's sovereign wealth fund, bought a 95 per cent stake in 60 Wall St, a 47-story tower in lower Manhattan that serves as the US headquarters of Deutsche Bank AG.

The deal values the 1.6 million-square-foot skyscraper at US$1.04 billion, or about US$640 a square foot, GIC and seller Paramount Group Inc said in a joint statement.