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New York & Tri-State  + Downtown New York  + Office  | 

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.

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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 13-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 15-20 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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