The sale of the 1.2-million-sf, two-building property comes lessthan a year after Istithmar purchased the property from BostonProperties. As GlobeSt.comreported at the time of the June sale, Istithmar paid $1.2 billion,gaining a 30-story building and a 43-story building that composethe class A office 280 Park Ave.

For the current transaction, a sale price of $1.2 billion wouldrepresent a loss for Dubai-based Istithmar, due to traditionalclosing fees that undoubtedly took the original deal above the $1.2billion price point. A request for confirmation and comment fromIstithmar went unanswered by press time. A Broadway spokespersontells GlobeSt.com, "[Broadway's] policy is typically not to speakabout deals that have not closed."

The building was built in 1961 and split into the east tower andwest tower seven years later. Major tenants at the BostonProperties' managed site include Deutsche Bank, the NationalFootball League, Oppenheimer and AG Edwards. CB Richard Ellisbrokers Peter Turchin, Gregg Rothkin and Alan Wildes handle leasingwithin the 97% occupied building. According to CBRE's website, theasking rental rate for the remaining 37,082 sf is $110 per sf. ACBRE spokesperson tells GlobeSt.com the firm is not handling thebuilding sale.