SL Green sells New York REIT stake, adds new tenants

REIT also announces 102 Greene sale at $43M valuation

TRD New York /
Apr.April 19, 2017 07:00 PM

SL Green Realty shed its stake in New York REIT, the company announced Wednesday.

The real estate investment trust previously held 4.77 million New York REIT shares, worth round $45 million as of Wednesday. In December 2015 Bloomberg reported that SL Green was in talks to buy New York REIT outright, but the firm later denied the report.

After the SL Green deal failed to materialize New York REIT’s board decided to sell of the struggling REIT’s assets one-by-one. Last year, the company became embroiled in a tussle for power between the management and activist investors Michael Ashner and Steve Witkoff that ended with Wendy Silverstein becoming its external manager.

SL Green also announced leasing deals with a financial trade group and a nonprofit at two Midtown properties. The International Swaps and Derivatives Association, a trade group representing companies that sell derivatives, signed a 15-year lease for 32,814 square feet at 10 East 53rd Street. Meanwhile the American Jewish Joint Distribution Committee, a Jewish relief organization, is taking 28,939 square feet for 30 years at 220 East 42nd Street.

The company sold a 90 percent stake in the retail building 102 Greene Street to an unnamed investor, valuing the entire property at $43.5 million, or $4,728 per square foot.

(To see more sales transactions from SL Green, click here)


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 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 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

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green CEO Marc Holliday, One Madison Avenue and Hines Group CEO Jeffrey Hines (SL Green; Hines via Sanjeev Verma/Hindustan Times via Getty Images)

SL Green sells half of One Madison to Hines, NPS of Korea

SL Green sells half of One Madison to Hines, NPS of Korea
SL Green CEO Marc Holliday and CFO Matthew DiLiberto (Credit: SL Green)

SL Green preparing $1B coronavirus cushion

SL Green preparing $1B coronavirus cushion
SL Green's Mark Holliday with Industry City in Brooklyn and 95 Morton Street (Credit: Industry City; SL Green; Google Maps)

SL Green in talks to sell loans to CIM, Rockwood

SL Green in talks to sell loans to CIM, Rockwood
10 East 53rd Street and SL Green's Marc Holliday (Credit: TPG Architecture, Sl Green)

SL Green snags $220M refi for Midtown East office tower

SL Green snags $220M refi for Midtown East office tower
1185 Sixth Avenue (Credit: Google Maps)

3 workers test positive for coronavirus at 3 SL Green office towers

3 workers test positive for coronavirus at 3 SL Green office towers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...