Sale Solves 5 Times Square Mystery

5 Times Square sells for $34.5 million a floor. Sign Up For Our Daily Newsletter Sign Up Thank you for

757448.jpg
5 Times Square sells for $34.5 million a floor.

Sign Up For Our Daily Newsletter

By clicking submit, you agree to our <a rel="nofollow noreferer" href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime.

See all of our newsletters

The guessing game is over about 5 Times Square: Crain’s reports that Boston Properties (BXP) will sell the 1.1-million-square-foot, Class A office tower to AVR Realty for $1.28 billion. In cash.

For several months, the media as well as commercial real estate insiders have dished about the sales fate of 5 Times Square, a 37-story tower built in 2002 that’s now the headquarters of Ernst & Young. Boston Properties was supposed to have sold 5 Times Square along with its 280 Park Avenue, but the latter went to Istithmar for $1.2 billion in June.

– Tom Acitelli

Sale Solves 5 Times Square Mystery