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SL Green Sells Partial Stake in 2 Herald Square, Signs 4 Leases
SL Green Realty Corp. has secured $150 million of first mortgage financing for its recently acquired 2 Herald Square, and has sold a 49% partnership interest to an Israeli institutional investor. The REIT has also signed 177,081 square feet of leases there, representing a mix of retail and office.
Largest of the four leases is a 30-year leasehold condominium covering 95,370 square feet for Mercy College. The college previously occupied 55,000 square feet
WeWork expanded its footprint with a new 29,388-square-foot lease. Amazon, through WeWork’s enterprise client account, currently occupies 122,903 square feet.
Finally, Victoria’s Secret and Happy Socks signed new leases, filling a recaptured Sixth Avenue lobby space that SL Green converted into a retail opportunity.
“In just six months, we have shown that with strong management and capital investment, this asset in a prime Herald Square location immediately attracts global capital and tenants,” said SL Green’s Brett Herschenfeld.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
- ◦Lease
