34th Street office building listed by SL Green could net $225M

New York /
Apr.April 26, 2013 03:30 PM

Commercial landlord SL Green has listed 333 West 34th Street, a fully-leased, 350,000-square-foot office building that sources say could sell for $225 million, according to Crain’s.

A team from Jones Lang LaSalle headed by Richard Baxter and Scott Latham is handling the sale for the landlord. The 10-story building is located between Eighth and Ninth avenues.

Rents at the 10-story property are currently in the $40s per square foot. However, they could rise with the Hudson Yards project upgrading office space nearby, Crain’s said.

SL Green bought the building in 2007 from Citibank for $183 million. The mega-landlord then invested $26 million in upgrades and brought in a full new roster tenants after Citibank, which formerly occupied the whole building, vacated.

Office and retail tenants now include the Metropolitan Transportation Authority and musical instrument store Sam Ash. [Crain’s]Zachary Kussin


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