Manhattan’s Brill Building, where songwriters such as Burt Bacharach and Neil Diamond penned pop hits, is being sold to investors led by Allied Partners Inc., who plan to redevelop its office and retail space.

The group will pay about $200 million for the property at 1619 Broadway, three blocks north of Times Square, to an Invesco Ltd. fund by the end of June, said a person briefed on the deal who was not authorized to speak publicly. New York-based Stonehenge Management LLC is Invesco’s partner in the building.