NEW YORK CITY–SL Green Realty Corp. is selling the fee interest at 635 Madison Ave. for $151 million. The transaction is expected to close in the third quarter of 2018. SL Green purchased the fee interest in 2014 for $145 million. Although the real estate company declined to provide additional information, The Real Deal reported the buyer as iStar.
Adam Spies and Doug Harmon of Cushman & Wakefield represented SL Green.
Real Capital Analytics notes that BlackRock Realty in a joint venture with L&L Holding sold the property to SL Green. The 19-story building at 635 Madison Ave. stands between E. 59th and E. 60th streets in Manhattan's Plaza District.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
