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NEW YORK CITY — SL Green Realty Corp. has entered into an agreement to purchase 719 Seventh Avenue in Times Square for $41.1 million. Located on the southeast corner of 48th Street and Seventh Avenue, the site can accommodate a building up to 28,114 square feet in addition to highly coveted LED signage towers. SL Green plans to demolish the existing building to take advantage of the development rights. This acquisition will increase the size of SL Green’s retail property portfolio, which features assets along New York City’s primary retail corridors. The transaction is expected to close during the second quarter of 2014. David Berkley, a private investor, helped to arrange the transaction.