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Starrett-Lehigh Building Sells; Northern Manhattan Market Check

CHELSEA?Commercial real estate doesn't usually excite us, but all bets are off when it's a landmark and a one-time scaffolding nightmare. So how's our old friend the Starrett-Lehigh Building? Changing hands! RXR Realty has just picked it up for a cool $920 million, or around $400/square foot. And there goes our one commercial real estate update for the week! [CurbedWire Inbox]

UP NORTH?The flurry of market reports isn't over just yet: into the Curbed inbox today comes a couple of Northern Manhattan (by which the report seems to mean Harlem) market reports from Ariel Property Advisors. On the residential front, market-rate rents were about $30/square foot in the first half of 2011, 13 percent higher than they were in 2010. But the majority of units covered by the report are still rent-regulated, and those average $15.50/square foot. The average condo price was $536/square foot, on par with the 2010 stats. [CurbedWire Inbox]