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SL Green Agrees to Sell Stonehenge 58
SL Green Realty Corp. and its joint venture partner are in contract to sell 400 E. 58th St., a 126-unit residential building in Midtown East’s Sutton Place neighborhood, for $62 million. The REIT owns a 90.0% interest in the JV.
“The sale of 400 E. 58th is a continuation of the business plan we have successfully executed over the last several years to dispose of non-core assets at attractive market values and re-invest the proceeds into our development projects and our share repurchase program,” said CIO David Schonbraun.
SL Green acquired the building in 2012 as part of an eight-building retail and multifamily portfolio. Known as Stonehenge 58, the 16-story property also includes approximately 3,800 square feet of retail. The rental units are 97% occupied.
Ackman-Ziff Real Estate Group’s Simon Ziff and Marc Sznajderman represented SL Green in the transaction. The sale is expected to close in the third quarter.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

