Carlos Slim in Contract for Fifth Avenue Building

Carlos Slim Helu, the richest man in the world, is in contract to buy an office building on Fifth Avenue, according to a source close to the transaction.

Mr. Slim, the Mexican telecom billionaire and The New York Times‘ largest creditor, is in contract to buy the building, at 417 Fifth Avenue, for $140 million, or $343 a square foot, from Joseph Moinian and Goldman Sachs, which purchased the building for $250 million during the height of the real estate boom.