Despite being downgraded by Goldman Sachs last week and news it would sell off $1.1 billion to cover the cost of 11 Madison, SL Green Realty is still hungry for more buys.
The city’s largest office landlord announced today that it has acquired a trio of downtown properties for just shy of $300 million.
Goldman is the largest tenant in the building, also known as the Soho Building, with just shy of 12,000 square feet, according to Costar.
“This transaction presents SL Green with a unique opportunity to acquire and further enhance the property into one of the most compelling multi-use assets in Downtown New York, SL Green managing director Brett Herschenfeld said in a statement.
Goldman received approval from the city’s planning department last year to utilize a portion of the building’s ground floor for retail.
SL Green also announced the purchase of two buildings near the Fulton Transit Center for $63.7 million: the 7,500-square-foot 187 Broadway (tenant Payless Shoes) and 5-7 Dey Street, a 70,000-square-foot, Class B office building.
The seller was the Sakele Brothers Company. Both transactions were completed directly between the parties and are expected to close in the third quarter.
Goldman Sachs last week downgraded the REIT to “sell” due to its debt-heavy strategy.
The company revealed in early June that it planned to sell off at least $1.1 billion to finance the acquisition of 11 Madison Avenue, the 2.3-million-square-foot Art Deco office building on Madison Square Park.