SL Green Realty will sell office and retail properties in Manhattan in two transactions. In one, it will sell its leased fee interest at 292 Madison Ave. for $85 million. In another, the REIT and JV partner
Jeff Sutton will sell two retail condominium units at 141 Fifth Ave. for $17.5 million.
SL Green will acquire 125 Park Ave. for $330 million, according to a source. Shorenstein Properties is the seller of the property, a 26-story tower located between 41st and 42nd streets that is 96% leased.
Real estate investor Scott Rechler's RXR Realty is in negotiations to acquire 340 Madison Ave. in Manhattan, according to sources. The 22-story midtown office building, owned by Broadway Partners, might trade for $570 million.
SL Green is acquiring 600 Lexington Ave. in Manhattan for $193 million. A joint venture led by Hines US Core Office Fund is selling the office building. SL Green is assuming $50 million in debt on the property as part of the transaction.
The Carlyle Group and Crown Acquisitions closed the acquisition of a controlling interest in the retail portion of 666 Fifth Ave. from Kushner Cos. for $525 million. The 90,000-square-foot property has 200 feet of uninterrupted retail frontage on Fifth Avenue in Manhattan.