The Real Deal New York

SL Green to sell leasehold stake in 673 First Avenue

Longtime tenant NYU Hospitals Center set to buy office building

SL Green is in contract to sell its leasehold interest in a 422,000-square-foot office building at 673 First Avenue to NYU Hospitals Center for $145 million.

NYU Hospitals Center, NYU School of Medicine and New York Presbyterian are the main tenants in the building, located near 39th Street. Cushman & Wakefield brokers Mark Mandell, Bruce Moslder, David Heller and Michael Rotchford represented the buyer, while Fried, Frank, Harris, Shriver & Jacobson represented SL Green. SL Green paid $362 million for the building in 2006, records show.

In 2007, NYU Hospitals Center signed a 13-year lease for an extra 44,995 square feet, making the total 159,631 square feet, as previously reported. — Mark Maurer