The Real Deal New York

Kamber Management closes on $365M Tower 45 buy

SL Green uses proceeds to fund 11 Madison purchase

September 25, 2015 08:36AM

Tower 45 NYC

From Left: 120 West 45th Street, SL Green’s Marc Holliday (Credit: Steve Friedman) and JLL’s Richard Baxter

Kamber Management has closed on its $365 million purchase of Tower 45 from SL Green Realty.

The Real Deal first reported that Kamber was the buyer back in July. The sale price values the class-A, 460,000-square-foot office tower, located at 120 West 45th Street, at about $830 per square foot.

JLL’s Richard Baxter and Yoron Cohen brokered the deal along with CBRE’s Darcy Stacom and William Shanahan.

SL Green used the sale proceeds to fund its $2.6 billion acquisition of 11 Madison Avenue in Midtown South.

Earlier this month, the Midtown-based Kamber sold a 134,000-square-foot tower at 12-28 West 33rd Street to the Carlyle Group for $111 million. – Ariel Stulberg