SL Green buys out partner at 1515 Broadway

New York /
Apr.April 28, 2011 09:56 AM

SL Green Realty has bought out its joint venture partner in Times Square’s 1515 Broadway, giving the city’s largest office landlord full ownership of the property in a transaction valuing it at $1.21 billion, the company announced today. SL Green had owned the 1.75 million-square-foot building with SITQ, a subsidiary of Canadian investment fund Caisse de dépôt et placement du Québec, one of several joint ventures for the pair throughout the city. “This is another in a line
of highly successful joint ventures with SITQ, and we look forward to
joining SITQ in making future investments,” said Andrew Mathias, president of SL Green. SL Green and SITQ also have joint ownership of 1745 Broadway. “1515 Broadway is one of our premier assets… we expect to own it for many years to come,” Mathias said. The 54-story office tower recently underwent a $40 million renovation, and is home to Viacom International, Aeropostale, Oakley and Billabong. 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
SL Green's Marc Hollday, 635-641 Avenue of the Americas, Infor's Kevin Samuelson. (Infor, SL Green)
Software company Infor renews 90K sf Chelsea lease
Software company Infor renews 90K sf Chelsea lease
SL Green’s director of leasing Steve Durels and One Vanderbilt. (SL Green, One Vanderbilt)
SL Green to offer flex offices at One Vanderbilt
SL Green to offer flex offices at One Vanderbilt
106 Spring Street with SL Green's Marc Holliday of SL Green and Paceline Equity Partners' Sam Loughlin (Google Maps, iStock)
One of Soho’s priciest retail spaces sells at UCC foreclosure auction
One of Soho’s priciest retail spaces sells at UCC foreclosure auction
SL Green's Marc Holliday and Brookfield Asset Management's Bruce Flatt with Tower 46. (SL Green, Brookfield)
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green to sell its 25% stake in Tower 46 to Brookfield
SL Green CEO Marc Holliday with 11 Madison Avenue and 100 Park Avenue (SL Green, Google Maps/Illustration by Alexis Manrodt for The Real Deal)
SL Green sees improved “market vibe,” office return in “a blink of an eye”
SL Green sees improved “market vibe,” office return in “a blink of an eye”
arrow_forward_ios

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

Loading...