SL Green Sells 707 Eleventh Ave. for $95M
The REIT purchased the 160,000 square foot building in January of 2020 for $90 million.
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.
The sale follows on the heels of a trio of properties the REIT announced it was selling earlier this month. It sold a 25% stake in One Madison Ave., to an international investor and in separate transactions sold off two non-core assets.