Will SL Green sell 485 Lexington Avenue?

According to the Post, Murray Hill Properties has been in talks with SL Green to buy its one-million-square-foot office building at 485 Lexington Avenue, at 47th Street, for about $600 per square foot, but now may be backing out of the deal. A source told the Post that Murray Hill Properties is rethinking the purchase because the office space at 1540 Broadway is selling for only $400 to $450 per square foot, and although 485 Lexington Avenue has several long-term tenants, 1540 Broadway is a more modern building with better views and amenities. SL Green did not confirm it was in talks with Murray Hill Properties. SL Green bought 485 Lexington Avenue and the next door 750 Third Avenue for $480 million in 2004.