1140 Sixth Avenue sells for $97.5M

Landlord SL Green Realty announced Tuesday afternoon it has agreed to sell its entire leasehold in 1140 Avenue of the Americas for $97.5 million, or about $519 a square foot. Stellar Management and the Rockpoint Group are the buyers of the 22-story tower, between 44th and 45th streets, that’s 98.6 percent occupied. CB Richard Ellis represented SL Green in the deal, which is expected to close in the third quarter of 2006. By Tom Acitelli