SL Green officially announces 600 Lexington Avenue deal

New York /
Apr.April 15, 2010 01:34 PM
SL Green CEO Marc Holliday and 600 Lexington Avenue

SL Green has come out with an official announcement of its 600 Lexington Avenue takeover from a joint venture led by Hines US Core Office Fund for $193 million, or $636 per square foot. The price was previously reported at under $180 million. Under the terms of the deal, SL Green will assume $49.85 million of debt on the 36-story office tower, for which the 5.74 percent interest-only loan matures in March 2014. The building is currently 93.6 percent leased, though 54 percent of its space will become available over the next three years. “We moved aggressively to lock up this opportunity, and there exists a strong likelihood that we will be able to attract a joint venture partner on this asset,” said CEO Marc Holliday. The city’s largest landlord has been on somewhat of an acquisition tear lately. The company purchased 100 Church Street at a foreclosure auction earlier this year and recently snatched up the debt on Macklowe Properties’ 510 Madison, on which it is now trying — with some difficulty — to foreclose. TRD


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
GreenBarn Investment Group's David Welsh and David Schonbraun (SL Green, Senlac Ridge)
Ex-SL Green CIO David Schonbraun joins David Welsh’s Senlac Ridge
Ex-SL Green CIO David Schonbraun joins David Welsh’s Senlac Ridge
Brookfield's Bruce Flatt, 2 Manhattan West; SL Green's Marc Holliday, One Madison Avenue (Manhattan West, Getty, Brookfield, SL Green)
The 10 biggest Manhattan office leases of 2022
The 10 biggest Manhattan office leases of 2022
SL Green’s Brett Herschenfeld
Inside SL Green’s Times Square casino bid: podcast
Inside SL Green’s Times Square casino bid: podcast
SL Green's Marc Holliday, Frank Carone and Cushman & Wakefield's Brett White (SL Green, Getty, Cushman & Wakefield)
SL Green, Cushman suing tenants with Frank Carone ties
SL Green, Cushman suing tenants with Frank Carone ties
Boston Properties' Owen Thomas and SL Green's Marc Holliday (Boston Properties, SL Green, Getty)
Office developers widen their sights as sector’s uncertainty persists
Office developers widen their sights as sector’s uncertainty persists
arrow_forward_ios

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

Loading...