New York developer Harry Macklowe agreed to sell the General Motors Building and three other Manhattan skyscrapers for USD 3.95 billion

to the U.S. real estate investor Boston Properties. The transaction values the GM Building at almost USD 3 billion, making it the most expensive office building in the world. Last year Harry Macklowe used short-term debt that came due this year to buy the seven Equity Office buildings for USD 7 billion. All but USD 50 million was borrowed.