NEW YORK CITY-Continuing its move into sectors beyond office, SL Green Realty Corp. Wednesday announced it has reached agreement to buy 315 W. 33rd St, which is known as the Olivia, for $386 million. The sale of the mixed-use residential and commercial building—which was owned by Stonehenge Properties—included an adjacent lot.
The deal was brokered exclusively by CBRE's vice chairmen Darcy Stacom and Bill Shanahan, along with Paul Leibowitz, EVP. In addition, FTI Consulting acted as an advisor to the transaction.
The 36-story, 492,987-square-foot building includes 333 luxury rental apartments and was completed in 2012. The commercial space, which is 100% leased at below-market rental rates, consists of 270,000 square feet primarily situated along 34th street and includes a 14-screen movie theater, five ground-level retail stores, two office suites and a 250-space parking garage.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
