From the June issue: SL Green Realty’s 32-story office tower at 485 Lexington Avenue is
on the market with an asking price of $525 million, the New York Post
reported. The 921,000-square-foot building, between 46th and 47th
streets, has $450 million in assumable debt through 2017. Citigroup is
the lead tenant at the property, also known as Grand Central Square. SL
Green had been in discussions to sell the building to Murray Hill
Properties for $555 million, but talks reportedly have stalled. SL
Green bought the property, and the adjacent building at 750 Third
Avenue, for $480 million in 2004. Jon Caplan, Scott Latham, Richard
Baxter and Ron Cohen of Cushman & Wakefield are marketing the
building.
On the market: commercial
June 29, 2009 10:47AM
