The Real Deal New York

SL Green takes back 110 East 42nd Street

May 12, 2011 03:56PM

SL Green has taken back control of a 207,000-square-foot office building at 110 East 42nd Street between Lexington and Park avenues that it sold to Gotham Realty Holdings for $111.5 million in 2007, according to Crain’s. It acquired a minority stake in the property for an undisclosed figure as part of a debt restructuring process, a spokesperson for SL Green said.

It’s possible that the building could expand to connect with adjacent 125 Park Avenue, an SL Green property since 2010. Two floors are already connected, providing tenants with more flexible open plan floors.

As The Real Deal reported last October, Gotham missed 60 days of payments on its $90 million loan for the 42nd Street building. [Crain’s]

Comments are closed.