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NEW YORK CITY-CB Richard Ellis said Tuesday it had sold a 49% stake in the office portion of 1540 Broadway to a partnership of Edge Fund Advisors and HSBC Alternative Investments Ltd. Based on a valuation of $520 million for the 907,427-square-foot property, or approximately $575 per square foot, that translates into a purchase price of $254.8 million for the Edge/HAIL stake.

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