1540 Broadway offices sell for $525.1M

The deal to acquire the office portion of 1540 Broadway has closed for about $525.1 million. Equity Office acquired the portion — about 906,200 square feet of the nearly 1.1-million-square-foot Midtown tower — in a deal that involved tenant improvements and rent credits. The office portion of the tower is 97.5 percent leased, but Equity Office, the nation’s largest publicly held office building owner and manager, said it would soon have a large block of space available for leasing there. By Tom Acitelli