SL Green to Sell Manhattan Office Building for $226M

September 10, 2026

Investment New York News Northeast More Office

The deal is set to close in the fourth quarter of 2026.

Exterior shot of 110 Greene St., an office building in Manhattan's SoHo. — Also known as the SoHo Building, the property at 110 Greene St. was renovated in 2016. *Image courtesy of Yardi Matrix*

SL Green Realty Corp. has entered into an agreement to sell 110 Greene St., a 295,000-square-foot Class A office building in Manhattan’s SoHo neighborhood, for $226 million. Natora Group will be the buyer.

The transaction is expected to close during the fourth quarter of 2026 and also generate roughly $216 million of net cash proceeds that will be used to repay unsecured debt.

Eastdil Secured negotiated on behalf of the seller.

SL Green, known as one of the largest owners of commercial real estate in the borough, has owned the mid-rise since 2015. The company acquired a 90 percent stake in the building from Goldman Properties in a transaction that valued the asset at $255 million. In 2019, SL Green acquired the remaining 10 percent, bringing the property’s gross asset valuation to $256.5 million, according to SEC filings.

In late 2020, the firm also planned to sell 110 Greene for between $250 million and $300 million, but the transaction did not materialize, according to Commercial Observer.

Also known as The SoHo Building, 110 Greene St. rises 13 stories between Prince and Spring streets. The property combines two structures completed in 1908 and 1920 that were later joined into a single building.

SL Green renovated the asset in 2016 and brought it to full occupancy through its leasing strategy. The property includes 14,859 square feet of retail space, office suites with conference rooms and pantries, a remodeled lobby, seven passenger elevators and a roof deck. 110 Greene is home to Balenciaga’s New York City flagship store, while other tenants include Avoro Capital Advisors and IOC Project Partners, which maintains its U.S. office at the historic property.

The steel-framed property has frontage on both Greene and Mercer streets. The Financial District is 2 miles away, while John F. Kennedy International Airport is within 16 miles of the building.

Eastdil Secured Vice President Carly Shoulberg and Managing Directors Gary Phillips and Will Silverman represented SL Green.

SL Green advances disposition plan

The agreement aligns with SL Green’s $2.5 billion disposition strategy. In late 2025, the office landlord unveiled plans to sell a mix of office and residential assets in its portfolio to help repay debt and to manage elevated interest costs.

In January, the REIT sold a 49 percent stake in 100 Park Ave., a 905.000-square-foot Midtown asset to Rockpoint, at a gross asset valuation of $425 million.

Later in June, the company entered into an agreement for the sale of 10 E. 53rd St., a 390,000-square-foot tower. Meadow Partners bought the property for $312.2 million, while SL Green received $100 million in net cash proceeds used for paying back corporate debt.

Manhattan deals top the charts

As of July 2026, Manhattan remained the leading metro for office investment, with $5.2 billion in deals, according to a recent Yardi Matrix office report. The borough accounted for 14 percent of the $36.4 billion in office transaction volume recorded nationwide. Manhattan also led the country in office pricing, as properties sold for $576 per square foot on average—well above the $198 per square foot national figure.

One of the largest deals in Manhattan so far this year remains the $730 million sale of Park Avenue Tower. SL Green purchased it in January from Blackstone’s Perform Properties subsidiary, after going under contract in October 2025.