Growth in NYC office supply is “a good thing”: Marc Holliday

With millions of square feet in new office space being built at Hudson Yards and the World Trade Center complex, some market observers are warning of a supply glut. But Manhattan’s largest office landlord, SL Green Realty, is having none of that. “The addition of new supply to Manhattan is a good thing,” the company’s […]

SL Green sells 49% stake in Stonehenge 57 to BlackRock

SL Green Realty sold a 49 percent stake in Stonehenge 57, its 261-unit rental building on Sutton Place, to asset manager BlackRock in a deal that values the 19-story property at $170 million, the landlord announced Wednesday. In late 2014, SL Green bought a 50 percent stake in the residential and commercial portfolio owned by Stonehenge Partners, […]

Ben Shaoul scores $195M loan for 196 Orchard

Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for its new Lower East Side condominium project next to Katz’s Deli, sources told The Real Deal. The senior loan for the project at 196 Orchard Street replaces the existing $97 million loan that SL Green provided last […]

SL Green refis 600 Lex with $125M Wells Fargo loan

SL Green Realty landed a $125 million loan from Wells Fargo to refinance 600 Lexington Avenue. The bank refinanced an existing $125 million loan Bank of China made against the 303,000-square-foot property in 2010, property records filed with the city Friday show. In 2010, SL Green and Canada Pension Plan paid Hines $193 million for the 36-story […]

SL Green doubles cash flow amid strong leasing, cheap financing

Six months ago, SL Green Realty’s CEO Marc Holliday spoke of a “dark cloud” hanging over Manhattan’s commercial real estate market. Since then the weather appears to have cleared up considerably. The office REIT more than doubled its funds from operations (a measure of cash flow) year-over-year in the second quarter to $357.8 million on […]

Citigroup closes on $1.8B buy of Tribeca HQ from SL Green

UPDATED, June 13, 6:35 p.m.: Citigroup closed on the repurchase of its Tribeca headquarters at 388-390 Greenwich Street from SL Green Realty for $1.76 billion, according to public records filed with the city Monday. The banking giant sold the two buildings to SL Green and Ivanhoe Cambridge for $1.6 billion in 2007. At the time, it […]

Four Seasons restaurant finds new home at 280 Park 

From left: The Four Seasons restaurant and 280 Park Avenue After getting the boot by Aby Rosen, the Four Seasons restaurant found a new home at SL Green Realty and Vornado Realty Trust’s 280 Park Avenue. According to sources cited by the New York Post, the restaurant’s owners Julian Niccolini and Alex von Bidder signed a […]