Manhattan’s largest office landlord, SL Green Realty Corp. announced that it entered into a contract to sell its recently appreciated 609 Fifth Avenue retail condominium for $168.0 million to an affiliate of the Reuben Brothers.
Brett Herschenfeld, Managing Director of SL Green said, “The sale of the 609 Fifth Avenue retail condominium is indicative of our ability to drive value even during uncertain market conditions. We will continue to look for opportunities that bring value to our shareholders as we strategically transact in the current economic climate.”
Brett added by saying the sale of the 609 Fifth Avenue retail condominium is a breakthrough to increase value even during unknown market conditions. They will look into the opportunities that give more value to its shareholders as they strategically transact in the current economic climate.
In the beginning of 2018, SL Green took up repositioning of the whole building, located at the corner of Fifth Avenue and 49th Street in the heart of Manhattan’s Gold Coast, including vacating the previous tenants in the office condominium portion of the property and relocating the office lobby onto 49th Street, thereby increasing the retail frontage on Fifth Avenue.