SL Green Sells Additional Stake in One Vanderbilt

SL Green Realty Corp. has closed on the sale of a 5% interest in One Vanderbilt Ave. to Mori Building Co., Ltd, Japan’s leading urban landscape developer. The sale follows Mori’s acquisition of an 11.0% interest in the trophy Midtown Manhattan office tower in November 2024.

Both investments were completed at a gross valuation of $4.7 billion. After completion of the transaction, SL Green maintains a 55% stake in One Vanderbilt Ave., a 1.7-million-square-foot office tower that is now fully leased.

“We are honored that Mori Building Company has chosen to expand its stake in the One Vanderbilt Avenue investment,” said Marc Holliday, chairman and CEO of SL Green. “Their decision is a strong endorsement of the tower’s unmatched quality and enduring value. Mori Building Company shares our commitment to investing in iconic global properties, and we are grateful for their confidence in both the asset and our stewardship.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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