SL Green Acquires More Suburban Properties

NEW YORK CITY-SL Green Realty Corp. has acquired in an off-market transaction an office building along I-287 on the White Plains/Greenburgh, NY border and a Downtown Stamford office property from RPW Group of White Plains. The firm paid a total of $46.6 million.

The acquisitions bolster SL Green’s 3.6-million-sf portfolio in Westchester County and Fairfield County, CT, which it acquired in the merger with Reckson Associates Realty Corp. That transaction, valued at $6 billion, closed on Thursday, Jan. 25. The sales deal with RPW Group, closed on Jan. 19, according to those familiar with the deal.

SL Green Realty acquired 399 Knollwood Rd., a 143,000-sf fully leased office building on the White Plains/Greenburgh border for $31.6 million. The deal is valued at $216 per sf, slightly below the record Westchester sale price of $219 per sf paid by Heritage Realty Services LLC of New York City last year for 3 Gannett Dr. in Harrison.