NEW YORK CITY-Pfizer Inc. has decided to sell 685 Third Ave. inmidtown to TIAA-CREF. The New York skyscraper measures 634,000 sfand is set to fetch between $180 million and $190 million. Thissale by Pfizer is part of its cost cutting measures since acquiringWyeth.
This is the seventh sky scraper deal in Manhattan in threemonths. The first two quarters of this year has seen commercialproperty sales worth $2.92 billion, a 70% rise compared to 2009.For the full story, go to Crain's New York Business.
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