NEW YORK--(BUSINESS WIRE)--May 10, 2018--
SL Green Realty Corp. (NYSE: SLG), New York City’s largest office
landlord, today announced that it has reached an agreement to sell the
fee interest at 635 Madison Avenue for a sales price of $151 million.
The transaction, subject to certain closing conditions, is expected to
be completed during the third quarter of 2018. SL Green purchased the
fee interest in 2014 for $145 million.
SL Green was represented by Adam Spies and Doug Harmon of Cushman &
Wakefield in the transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
office landlord, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of March 31, 2018, SL Green
held interests in 118 Manhattan buildings totaling 49.9 million square
feet. This included ownership interests in 28.7 million square feet of
Manhattan buildings and debt and preferred equity investments secured by
21.2 million square feet of buildings. In addition, SL Green held
ownership interests in 25 suburban buildings totaling 3.7 million square
feet in Brooklyn, Long Island, Westchester County, and Connecticut.
SLG – A&D
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Source: SL Green Realty Corp.
SL Green Realty Corp.