RCA in the commercial property press:

SL Green Trades In to Trade Up

Crain's New York Business reports: Marking its second listing on Manhattan’s W 44th Street in recent months, SL Green Realty Corp has hung a for sale sign on its 400,000-square-foot office tower at 28 W 44th St between Fifth and Sixth Avenues. This offering comes after the recent closing of 19 W 44th St. The decision to sell both properties is part of Sl Green’s latest strategy to focus the firm’s capital on quality assets in highly-visible locations of the US’ major markets.

On the flip side of this restructuring, SL Green has recently purchased 600 Lexington Ave and 125 Park Ave in Manhattan, as both are well-tenanted, top-shelf properties. Real Capital Analytics’ managing director Dan Fasulo remarked of the firm’s latest offering that, “SL Green has been a prolific recycler of capital-selling ‘B’ buildings and buying ‘A’ buildings.”

For other buildings SL Green is considering for “recycling,” please see the full article on Crain’s New York’s website.

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Posted by: Nina Turner

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