NEW YORK CITY-RXR Realty LLC, a real estate firm based in NewYork, has agreed to purchase the 40-story office building at 450Lexington Ave. in Manhattan from Dubai-based Istithmar WorldCapital. The skyscraper, which has over 900,000 square feet, isvalued at over the $600 million that the current owner paid for itin 2006.
Istithmar bought the Lexington Avenue building in 2006 andrefinanced it in 2007. The office tower is nearly fully leased totenants including Davis Polk & Wardwell. For the full story,go to Wall Street Journal .
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