Manhattan skyscraper commands $310 million

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SL Green Realty Corp. today announced the sale of 1250 Broadway in Manhattan, N.Y., for a price of $310 million, or approximately $463 per square foot. Located conveniently near Penn Station on Broadway at 31st Street, 1250 Broadway is a 39-story, 670,000-square-foot office tower, boasting an occupancy rate of 99 percent. According to a press statement, the sale to Murray Hill Properties is expected to close during the second quarter of 2008, subject to customary closing conditions. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...