The Real Deal New York

SL Green snags 600 Lexington Ave. for $180M

April 13, 2010 08:49AM

SL Green is buying Hines Interests’ 600 Lexington Avenue for almost $180 million, or $700 a square foot, sources told Crain’s. The 282,000-square-foot office tower is one of three major city properties of its kind that had been attracting attention from investors while on the market despite the sector’s slump. All three — the others are 340 Madison Avenue and 125 Park Avenue — are being marketed by Darcy Stacom and Bill Shanahan of CB Richard Ellis. The acquisition for the city’s largest landlord follows that of 100 Church Street, which SL Green picked up at a foreclosure auction earlier this year. The company also recently bought the debt on 510 Madison Avenue, on which a foreclosure is scheduled for next week pending a hearing tomorrow. [Crain’s]


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