Times Square Tower Sells For $1.5 Billion, Highest Price Since 2010

Manhattan real estate isn't just pricey for homeowners, as evidenced by the sale of a tower at 5 Times Square that sold for $1.5 billion recently, marking the highest price for its class in about four years. Bloomberg news late Thursday reported that the tower, which serves as the headquarters for accounting company Ernst & Young, was sold to a group of partners headed by New York investor David Werner by AVR Realty Co.