Roumors say that GM Building in New York will be sold this month

Bloomberg News report that "New York real estate developer Harry Macklowe plans to sell the General Motors Building on Manhattan's Fifth Avenue this month to help repay debts..."

At different information sources state, the cost of the deal will be around 3 billion dollars. This will be the largest Real Estate deal ever in history of New York.

Analysts predict that successful settlement of the deal will provide a boost to New York Reast Este prices, and help support the mortgage crisis in the US.

GE Building was built between 1931-1933, and was resold several times on always higher price.