SL Green Sells 110 Greene Street For $226M
SL Green is selling a SoHo building for more than $225 million, the latest deal in the company’s $2.5 billion selloff plan.
The REIT led by Marc Holliday struck a deal to sell 110 Greene Street to the Natora Group for $226 million, SL Green announced Wednesday.
Natora Group is buying the retail-and-office buildings through a 1031 exchange with proceeds from the sale of industrial buildings to the Blackstone Group, according to a source familiar with the deal.
The deal works out to more than $1,000 per square foot for the 13-story, 223,000-square-foot 100 Greene Street, where Spanish luxury fashion house Balenciaga is the main retail tenant.
Eastdil Secured brokered the deal.
It’s the latest big-ticket sale for SL Green, which at the end of last year said it plans to sell $2.5 billion worth of real estate in response to higher interest rates.
In January, the firm sold a minority stake in the 900,000-square-foot building at 100 Park Avenue to Rockpoint at a $425 million valuation. The company put the 600,000-square-foot building at 1350 Sixth Avenue up for sale in March, eyeing a price tag of around $360 million.
And over the summer, the REIT sold 10 East 53rd Street to Meadow Partners for $312 million.
Read more
SL Green eyes $2.5B in property sales
SL Green eyes up to $360M for Sixth Ave office tower
SL Green selling Midtown office building for $300M+
