NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp (NYSE:SLG), New York City's largest commercial
property owner, today announced an agreement to sell 520 White Plains
Road, a 180,000-square-foot office building in Tarrytown, NY for a gross
sale price of $21 million, or $117 per square foot. The transaction is
expected to close during the second quarter of 2017, subject to
customary closing conditions.
SL Green Co-Chief Investment Officer Isaac Zion commented, "This
transaction is a continuation of our strategic efforts to dispose of
non-core assets in order to generate cash proceeds that can be used for
reinvestment or further fortification of our balance sheet."
Jeff Dunne of CBRE represented the purchaser in the transaction
announced today.
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 September 30, 2016, the
Company held interests in 125 Manhattan buildings totaling 46.6 million
square feet. This included ownership interests in 28.1 million square
feet of commercial buildings and debt and preferred equity investments
secured by 18.6 million square feet of buildings. In addition, the
Company held ownership interests in 30 suburban buildings totaling 4.8
million square feet in Brooklyn, Long Island, Westchester County,
Connecticut and New Jersey.
To be added to the Company's distribution list or to obtain the latest
news releases and other Company information, please visit our website at www.slgreen.com
or contact Investor Relations at (212) 594-2700.
SLG-A&D
View source version on businesswire.com: http://www.businesswire.com/news/home/20170125005635/en/
Isaac Zion
Co-Chief Investment Officer
Or
Matt DiLiberto
Chief
Financial Officer
212.594.2700
Source: SL Green Realty Corp
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