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SL Green Trades Midtown South Offices for $325M
SL Green Realty Corp. said it agreed to sell 635-641 Sixth Ave. in Midtown South for $325 million. The buyer is reportedly San Francisco-based Spear Street Capital. The REIT had paid $173 million for the 267,000-square-foot office property in 2012.
“New York City’s revitalization continues as does the demand for Class A office buildings,” said Harrison Sitomer, SVP at SL Green. “The disposition at a sale price of more than $1,200 per square foot is a result of extensive repositioning and leasing efforts at the property.”
He added that the sale represented “another step in the successful execution of our 2021 business plan.”
Occupying a full block between West 19th and West 20th streets, the property is currently 94% leased and anchored by multi-national enterprise software company Infor through 2030.
CBRE’s Darcy Stacom, William Shanahan and Doug Middleton represented SL Green in the sale.
- ◦Sale/Acquisition
