exclusively

Nearly two years ago, Sitt Asset Management contracted to acquire 6 Times Square from SL Green Realty for $160 million. Constructed in 1906 as the Knickerbocker Hotel, the 16-story property was subsequently converted into office space. It is located on the southeast corner of Broadway and 42nd Street. At the time when news broke of the property being marketed, sources said interested parties were also considering the site for hotel conversion. The deal is expected to close by the end of the year.

Doug Harmon of Eastdil exclusively represented the seller and brokered the 522 Fifth Ave. deal, which was put on the market by Stellar Management and Rockpoint Group. An Eastdil is also working on the 660 Madison transaction.

Broadway Partners will receive a vacant property at the 550,000-sf 522 Fifth--the former home of JP Morgan Chase--when the deal closes shortly. One source says there was a lot of interest from financial institutions looking to occupy some of the space as well as REITs. "You can't go wrong with this property," the source said.