SL Green expands Midtown South portfolio

TRD New York /
Oct.October 01, 2012 11:30 AM

The real estate investment trust SL Green has purchased two office properties from Atlas Capital Group in an effort to expand its presence in the in Midtown South submarket, the company announced today.

The firm paid $173 million, or $648 per square foot, for the two properties, which are located at 635 Sixth Avenue and 641 Sixth Avenue. The building at 635 Sixth Avenue totals 104,000 square feet and was previously occupied by Apex Technical School, while 641 Sixth Avenue has a total of 163,000 square feet and boasts tenants such as Google.

“One of our stated goals in 2012 was to expand our presence in Midtown South, the hottest office submarket in New York with a current vacancy rate below 5 percent, and this latest transaction further demonstrates our continuing belief in the strength and vitality of the expanding creative, media and technology sectors,” Isaac Zion, co-chief investment officer at SL Green, said in a statement.

Rob Martin of Jones Lang LaSalle advised on the transaction. — Katherine Clarke


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 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

Clockwise from left: 707 Eleventh Avenue, One Vanderbilt, SL Green chairman and CEO Marc Holliday and 410 Tenth Avenue (Credit: Google Maps, SL Green, Hines)

SL Green snaps up West Side office property

Boston Properties CEO Owen Thomas (left), Shearman & Sterling's David Beveridge, and 599 Lexington Avenue (Credit: Wikipedia)

Boston Properties inks big renewal with law firm at 599 Lex

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

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

Jacob Chetrit buying Daily News building from SL Green for $815M

arrow_forward_ios
Loading...