Trending

Kamber Management closes on $365M Tower 45 buy

SL Green uses proceeds to fund 11 Madison purchase

Tower 45 NYC
From Left: 120 West 45th Street, SL Green's Marc Holliday (Credit: Steve Friedman) and JLL's Richard Baxter

Kamber Management has closed on its $365 million purchase of Tower 45 from SL Green Realty.

The Real Deal first reported that Kamber was the buyer back in July. The sale price values the class-A, 460,000-square-foot office tower, located at 120 West 45th Street, at about $830 per square foot.

Sign Up for the undefined Newsletter

JLL’s Richard Baxter and Yoron Cohen brokered the deal along with CBRE’s Darcy Stacom and William Shanahan.

SL Green used the sale proceeds to fund its $2.6 billion acquisition of 11 Madison Avenue in Midtown South.

Earlier this month, the Midtown-based Kamber sold a 134,000-square-foot tower at 12-28 West 33rd Street to the Carlyle Group for $111 million. – Ariel Stulberg

Recommended For You