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Murray Hill Pre-Empts Bids on 1250 Broadway

NEW YORK CITY-GlobeSt.com exclusively learns that Murray Hill snags SL Green's 770,000-sf tower for $310 million just days before the first bid was due.

By Paul Bubny | Updated on February 08, 2008

NEW YORK CITY-Only days before the first bid was due for locally based SL Green Realty Corp.’s 1250 Broadway, Murray Hill Properties has purchased the 770,000-sf tower for $310 million, GlobeSt.com has exclusively learned. As GlobeSt.com reported in early January, SL Green was putting the 39-story Midtown South property up for sale and had engaged Cushman & Wakefield to market it.

“We pre-empted the whole world,” Norman Sturner, MHP co-founder and principal, tells GlobeSt.com. “It is what we consider a coup.”

Sturner explains that “the teaser had been sent out” on 1250 Broadway, adding that the first bids were to be submitted on Feb. 12. “But there were no bids. We bought it this morning [Friday],” Sturner says.

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