SL Green to sell American Girl Place building

TRD New York /
Jun.June 05, 2015 12:00 PM

SL Green Realty is putting 609 Fifth Avenue, The Building That Houses The American Girl Place store, on the market. 

Mattel’s American Girl Place’s lease at the 156,000-square-foot property is set to expire in 2018, Bloomberg reported. The upscale toy store is not planning on leaving before its lease is up, a Mattel spokesperson told the website. SL Green is looking to cash in on rising retail rents on the shopping corridor. The American Girl lease was said to be one of the biggest retail deals of its time.

“Demand for retail space on that part of Fifth Avenue continues to be extremely hot, and there’s no indication it’s going to subside in the near future,” a spokesperson for SL Green told Bloomberg.

CBRE’s Darcy Stacom is marketing the property. “This Is Perfect High Street retail,” she told Bloomberg. “It’s Across The Street From Saks Fifth Avenue and catty-corner to Rockefeller Center. This is the anchor of the gold coast.”

SL Green is in the midst of buying 11 Madison Avenue for $2.3 billion and is marketing Tower 45, an office tower near Times Square. The property is one of a few “mature, non-core assets” the company has been planning to sell, an SL Green spokesperson told the website. [Bloomberg] — Claire Moses

Correction: a prior version of this article incorrectly stated Jeff Sutton as a co-owner.

Related Articles

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’s locks in big bank lease at
Hudson Yards redevelopment site

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

Marc Holliday and rendering of One Vanderbilt

Sentinel Capital Partners becomes latest firm to ink deal at One Vanderbilt

Suri Kasirer

WATCH: Suri Kasirer on the influence of her father’s Holocaust stories and lobbying hard for the Vanderbilt Corridor and Cornell Tech

Lawsuits, pop-ups and ragers: Why 60 Guilders took a $25M loss on its prized Soho retail property

Savanna picks up 521 Fifth Ave for $381M