SL Green Acquires HarperCollins Building for $253M

NEW YORK CITY-SL Green Realty Corp., the city’s largest publicly-traded office REIT, kicked off the new year with its first major buy: the HarperCollins Building in Manhattan’s Plaza District. The property, located at 10 E. 53^rd St., traded for $252.5 million, or approximately $647 per square foot.

 The transaction follows a year of big deals for the REIT, which included acquisitions like 180 Maiden Lane, a consolidation of ownership at 1515 Broadway and a refinancing at 3 Columbus Circle. Under its latest deal, SL Green is planning a capital improvement program for the 37-story, 390,000-square-foot building, which is 91% occupied.