3/4/2008

Murray Hill pays $310M for 1250 Broadway in Midtown Manhattan

by

1250 Broadway

New York City-based Murray Hill Properties has purchased 1250 Broadway in downtown Manhattan for $310 million from SL Green Realty Corp.

SL Green was represented by Cushman & Wakefield in the transaction.

Built in 1970, 1250 Broadway is a 39-story Class A office tower located near Penn Station on Broadway at 31st Street. Its 670,000 square feet were 99 percent occupied at the time of sale.

SL Green purchased the building in 1999 for $93 million and sold a 45 percent interest in the asset to SITQ in 2001. The venture then invested $6.8 million in renovations to the building.

Address: 1250 Broadway, New York, N.Y.

Size: 670,000 square feet

Built: 1970

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Filed Under: Office

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