NEW YORK CITY-Pfizer Inc. has decided to sell 685 Third Ave. in midtown to TIAA-CREF. The New York skyscraper measures 634,000 sf and is set to fetch between $180 million and $190 million. This sale by Pfizer is part of its cost cutting measures since acquiring Wyeth.
This is the seventh sky scraper deal in Manhattan in three months. The first two quarters of this year has seen commercial property sales worth $2.92 billion, a 70% rise compared to 2009. For the full story, go to Crain's New York Business.
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