Top commercial deals down from last year

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In the first quarter of 2008, the top 10 commercial property trades amounted to $1.64 billion, but during the same time this year, the top 10 came to less than half that amount. The biggest commercial deal in the first quarter of the year was CB Richard Ellis Investors’ $355 million buy of 1540 Broadway‘s office condos, while the biggest sale during the same time last year was Altria’s $525 million sale of its 120 Park Avenue headquarters. After CBRE’s buy, the second largest deal in the first quarter of this year was Sotheby’s auction house buying its old headquarters at 501 East 71st Street back from Aby Rosen’s RFR Holding for $135 million.

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