SL Green expected to win 100 Church Street

TRD New York /
Dec.December 02, 2009 02:50 PM

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.”


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site

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

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
From left: SL Green CEO Marc Holliday, Ceruzzi Properties’ Arthur Hooper, the Lipstick Building at 885 Third Avenue and IRSA president Eduardo Elsztain (Getty, Wikipedia, Google Maps)

Lipstick Building ground rent reset leads to appraisal dispute

Lipstick Building ground rent reset leads to appraisal dispute
From left: Empire State Building, One Vanderbilt and 220 Central Park South

REITs: A crystal ball for NYC’s commercial real estate

REITs: A crystal ball for NYC’s commercial real estate
Isaac Zion

SL Green’s co-CIO leaving firm

SL Green’s co-CIO leaving firm
SL Green CEO Marc Holliday, One Madison Avenue and Hines Group CEO Jeffrey Hines (SL Green; Hines via Sanjeev Verma/Hindustan Times via Getty Images)

SL Green sells half of One Madison to Hines, NPS of Korea

SL Green sells half of One Madison to Hines, NPS of Korea
SL Green CEO Marc Holliday and CFO Matthew DiLiberto (Credit: SL Green)

SL Green preparing $1B coronavirus cushion

SL Green preparing $1B coronavirus cushion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...