Hines recently sold two Manhattan trophy buildings to separate buyers for a total of over $1 billion, according to Commercial Property Executive.

J.P. Morgan Asset Management acquired the 31-story, 750,000sf office building at 425 Lexington. The building has been fully occupied since being delivered in 1987 and the original anchors – Simpson Thacher & Bartlett L.L.P. and CIBC – are still tenants.

American Realty Advisors acquired the 28-story, 300,000sf office tower at 499 Park Avenue. Completed in 1980, the building houses tenants such as Deutsche Bundesbank, Cantor Fitzgerald and Hines eastern regional office.

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425 Lexington Avenue - Photo: Hines

499 Park Avenue - Photo: Hines

Last Updated on May 10, 2013 by Ramin Seddiq