SL Green Realty has sold 635-641 Sixth Ave., for $325 million, or approximately $1,200 per square foot.
The property comprises two adjoined buildings totaling eight stories and 267,000 square feet, occupying the full western block-front on Sixth Avenue from 19th Street to 20th Street in Midtown South. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions, and generate net cash proceeds to SL Green of approximately $312.5 million.
"New York City's revitalization continues as does the demand for Class A office buildings," said SVP Harrison Sitomer, in prepared remarks.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
