Photo of David Levinson Levinson says his company has made a concerted effort to boost our ability to embark upon New York’s complicated projects.”

NEW YORK CITY—A new joint venture between L&L Holding Co. and J.P. Morgan Asset Management will provide the JV partners up to $4 billion in buyer power. Although the $500-million partnership spans all five boroughs and a range of asset classes, its focus will be on acquiring and redeveloping Manhattan office properties, an L&L specialty since the firm’s launch in 2000.