Manhattan commercial property landlord SL Green Realty is positioned to take ownership over 100 Church Street, a Financial District office building that has struggled to retain tenants, the Wall Street Journal reported. The firm has long been the assumed future owner of the building — with the building’s January auction on the horizon, industry experts say other investors are unlikely to outbid SL Green. The group, Which Took Control Over 100 Church Street after the Sapir Organization defaulted on its loan in August, is one of the building’s biggest lenders and is angling to protect its investment, according to Michael Knott, an analyst with Green Street Advisors. “This is a situation where [SL Green] will have to put in some capital and work some leasing magic to salvage their total investment,” Knott said. According to him, the plan to acquire the building “is a lot better than just foreclosing and selling an empty building.”
SL Green expected to win 100 Church Street
New York /
Dec.December 02, 2009
02:50 PM
Related Articles
arrow_forward_ios

SL Green snags private-equity firm at One Vanderbilt

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Hudson Yards redevelopment site
Hudson Yards redevelopment site

One Vanderbilt lease at $300+ psf may be city’s highest office rent ever

Trump Tower condo shielded from ex-wife up for auction

Recruiter snags 71K sf at SL Green’s 711 Third Avenue

Nightmare at 20 Times Square: Inside the calamity at Maefield’s megaproject
arrow_forward_ios