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.
Recommended For You
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.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
