SL Green Realty has sold its ownership interest in 707 Eleventh Ave. for $95 million to a domestic buyer, with the transaction expected to close in the first quarter of 2022. Proceeds from the sale are expected to be used for the repayment of corporate debt.
The REIT purchased the 160,000 square foot, loft-style building in January of 2020 for $90 million. Proceeds from the sale are expected to be used for the repayment of corporate debt.
A team led by Andrew Scandalios at JLL represented SL Green in the transaction.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
