NEW YORK CITY-SL Green Realty Corp. has formed a joint venture with Stonehenge Partners to acquire eight retail and multifamily properties for $416 million. Stonehenge, which already owns and manages 2,560 apartment units in New York, will manage the residential portion of the properties.

The properties under contact in the joint venture are 724 Fifth Ave., 752 Madison Ave., 19-21 E. 65^th St., 762 Madison Ave., 44 W. 55^th St., 400 E. 57^th St. and 400 E. 58^th St. According to the David Frankel Realty website, the company owns the buildings being purchased.

Several of the buildings are already occupied by high-end fashion tenants. For example, luxury retailer Prada now occupies roughly 20,700 square feet at 724 Fifth Ave. And at 752 Madison Ave., where the joint venture plans to acquire interests, Armani has a sub-lease agreement in place for the entire four-stories until 2025. SL Green already owns retail properties in the area, for example 717 Fifth Ave., where Giorgio Armani has its flagship location.