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Buyer Emerges in SL Green’s $305M 600 Lexington Ave Deal
Greenwich-CT-based W. R. Berkley Corporation acquired 600 Lexington Avenue, a 36-story office tower situated in the heart of New York’s Plaza District from SL Green Realty for $305 million. It is the insurance company’s first significant office purchase in NYC.
The 99% leased property, located on the corner of 52nd Street and Lexington Avenue, houses such companies as hedge fund Element Capital Management and law firm Hawkins Parnell Thackston & Young. A recent renovation included the creation of a new lobby that features elegant touches of block mottled Makore wood-paneled walls and Bottocino Classico marble floors.
SL Green had indicated in November 2017 that it was under contract to sell the 300,000-square-foot Midtown asset to an undisclosed buyer. CBRE’s Darcy Stacom and Bill Shanahan brokered the deal.
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- ◦Sale/Acquisition