Clients in the News: SL Green

RDM client SL Green purchases 2 Midtown South office buildings.

SL Green has snapped up another two Midtown South office buildings—the 104k SF 635 Sixth Ave and the 163k SF 641 Sixth Ave—for $173M from Atlas Capital Group in an off-market buy, the REIT announced this morning. Here’s SL Green CEO Marc Holliday and prez Andrew Mathias, who dropped the hint during June’s REITWeek that they’d be making more purchases in the second half of the year—and that it had its eye on expanding in Midtown South, widely regarded as the hottest office submarket in the country. (Earlier this year, it bought 304 Park Ave South for $135M.) The two adjoining properties were originally built as one department store back in 1902. 635 Sixth was delivered vacant, recently left by Apex Technical School, while the multi-tenant 641 Sixth houses tech firms like Google and Infor. They also have a combined 47k SF of retail.
This post courtesy: Bisnow