SaleJun 1, 2026, 07:32 AM
SL Green Sells 10 East 53rd Street for $312.2M
AI Summary
SL Green Realty Corp. announced the sale of its 10 East 53rd Street property to Meadow Partners for $312.2 million. The transaction, expected to close in the third quarter of 2026, will generate approximately $100.0 million in net cash proceeds, which will be used for corporate debt repayment. This sale is a significant step in the company's $2.5 billion 2026 strategic disposition plan, validating its redevelopment and asset management initiatives.
Key Highlights
- SL Green sold 10 East 53rd Street for $312.2 million to Meadow Partners.
- The transaction is expected to close in Q3 2026, generating approximately $100.0 million in net cash proceeds.
- Proceeds will be used for corporate debt repayment.
- This sale is a step in the company's $2.5 billion 2026 strategic disposition plan.
- The 37-story, 390,000 square foot property is 92% leased.
- SL Green acquired the remaining 45.0% interest in the property in December 2024 at a $236.0 million gross valuation.
Price Impact
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