383 Madison Avenue housed the world headquarters of the now-defunct Bear Stearns from the building's completion until Bear's collapse and sale to JPMorgan Chase in 2008. The building now houses the New York offices for JPMorgan's investment banking division, which formerly occupied 277 Park Avenue. Both 383 Madison and 277 Park are adjacent to JPMorgan Chase's world headquarters address, 270 Park Avenue, and the 383 Madison building currently serves as temporary headquarters while 270 Park is being redeveloped.