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SL Green Makes $130M Acquisition

The building served as the former headquarters of Pepsi-Cola.

By Anthony Russo | December 03, 2024 at 04:59 AM

SL Green Realty Corp. has struck a deal to expand its New York City portfolio with a $130 million mixed-use acquisition.

Manhattan’s biggest landlord is adding 500 Park Avenue, a Class A asset — taking up 201,000 square feet of retail and luxury office space. Originally, the property was built in 1960 to serve as Pepsi-Cola’s headquarters. Now the site hosts tenants including The Georgetown Company, Friedland Properties, Vera Wang, and FRATO.

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