Two Midtown office towers change hands

Two large investment-sale transactions were recently inked in Midtown. Dubai investment company Istithmar, which bought 230 Park Avenue in 2005, signed a contract to buy a 99-year leasehold on the 32-story 450 Lexington Avenue. The sellers were a partnership including Norman Sturner’s Murray Hill Properties, Westbrook, and SITQ. Also, Broad Street Development and Crow Holdings Realty Partners IV, based in Dallas, paid $97.2 million for the 296,00-square-foot 370 Lexington Avenue at 41st Street. more [Post]