last two unsold towers in the Macklowe/Equity Office portfolio that Deutsche Bank took back in early 2008--1540 Broadway--has finally found a buyer. CB Richard Ellis Investors is closing a reported $355-millon deal to acquire the office portion of the 1.1-million-square-foot skyscraper with its CBRE Strategic Partners US Value 5 Fund. A spokeswoman for CBRE Investors tells GlobeSt.com that the company does not comment on speculation. A release from CBRE confirms the purchase of 905,533 square feet at 1540 Broadway, but not the sale price.

The Wall Street Journal reported in mid-February that CBRE Investors was back in the bidding for the 44-story Times Square office and retail property, although the Journal article said at that time a deal hadn't been finalized. A week later, Real Estate Finance and Investment reported that CBRE Investors had signed a non-refundable contract for just under $360 million, while the New York Observer, citing unnamed sources, said on Thursday that the deal was about to close.

Dan Fasulo, managing director of Real Capital Analytics, was quoted in the Journal article as saying that if the $355-million figure is accurate, "That's a harsh price for a well-located building." Fasulo could not confirm to GlobeSt.com whether the deal had taken place at that time.

If the property is changing hands for $355 million, it would be a lower figure than the $426.5 million that the Paramount Group paid for it in 2004. Paramount realized a profit of about $400 million when it sold 1540 Broadway to Equity Office Properties and Vornado Realty Trust, GlobeSt.com reported in May 2006. Vornado acquired the retail, parking garage and signage components of about 152,000 square feet for $260 million, while EOP paid $525 million for the tower's 900,000 square feet of office space.