The Real Deal New York

Hines seeks buyer for 750 Seventh Avenue

March 04, 2011 03:37PM

Hines Interests is looking to sell its 600,000-square-foot tower at 750 Seventh Avenue and has tapped commercial powerbroker Darcy Stacom of CB Richard Ellis to handle the deal, sources told the Observer. The real estate investment firm purchased the 32-story building, half of which is occupied by Morgan Stanley, for $150 million in 2000 through a partnership with General Motors. That works out to $260 per square foot. It’s unclear what Hines will be hoping to fetch for the 48th Street property, which is also home to Ernst & Young and Mendes and Mount, as it’s not officially on the market yet. [NYO]

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