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NEW YORK CITY-Princeton Holdings LLC has sold its stake in the 14-building F.M. Ring office portfolio, located mainly in Midtown South, for $74 million. A release announcing the sale identifies the buyer as “a major New York City real estate development and investment firm that will significantly boost its existing stake in the portfolio as a result of this transaction.” Additional financial details were not disclosed.

The Wall Street Journal and Crain’s New York Business have both reported that the buyer was Extell Development, and that the total value of the one-million-square-foot portfolio, including 212 Fifth Ave. and 251 Park Ave. South, has been estimated at more than $500 million. GlobeSt.com’s calls to Extell for comment were not returned by deadline early Thursday afternoon.

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