Search
 

SL Green Completes $547M of Transactions

NEW YORK CITY-The company completes $268 million of acquisitions and $251.5 million in dispositions, and a $27-million recapitalization.

By Katie Hinderer | Updated on April 24, 2007

NEW YORK CITY-SL Green Realty Corp. has closed six different transactions totaling $546.5 million. The deals include three acquisitions, two dispositions and one recapitalization.

Citigroup Global Markets Inc. has sold 333 W. 34th St. for $183 million, or about $530 per sf, to SL Green. The firm walks away with a fully occupied, 10-story, 345,400-sf office building in the recently rezoned Hudson Yards area. The building, which is completely occupied by Citigroup till 2009, also has 125 feet of retail frontage on 34th Street.

“333 West 34th St. is a unique opportunity to acquire an institutional quality property with an above standard infrastructure,” says president and CIO Andrew Mathias. “When Citigroup vacates the property in 2009, we will bring to market a large block of space to capture Midtown Manhattan’s rising rents. We have had great success in attracting large users at our Grand Central Square and 625 Madison Ave. redevelopment projects.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.