New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Rockpoint Acquires Minority Stake in SL Green’s 100 Park Ave.
SL Green Realty Corp. and Boston-based real estate private equity firm Rockpoint have formed a joint venture for the ownership of 100 Park Ave. in Midtown Manhattan. SL Green’s sale of a 49% interest to Rockpoint values the office tower at $425 million.
“Office has been a significant focus for Rockpoint throughout our 31-year history; we know the asset class extremely well and have always been disciplined about investing,” said Dan Domb, managing member and COO at Rockpoint. “As our first significant post-COVID office investment, 100 Park represents the kind of highly targeted opportunity that we find attractive today, given the vibrancy of New York and the favorable supply/demand dynamics for high-quality and extremely well-located properties like this one.”
Currently 97% leased, 100 Park was last refinanced for $360 million. SL Green bought out its joint venture partner’s 50% stake in the 905,000-square-foot office tower in 2024.
- ◦Sale/Acquisition
