{"id":1004128253,"date":"2015-09-28T02:00:42","date_gmt":"2015-09-28T10:00:42","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=362111"},"modified":"2020-05-11T22:58:38","modified_gmt":"2020-05-12T06:58:38","slug":"sl-green-unloads-office-asset-on-45th-street","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sl-green-unloads-office-asset-on-45th-street\/","title":{"rendered":"SL Green Continues to Shed Notable Assets"},"content":{"rendered":"<p><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004128757\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sl-green-unloads-office-asset-on-45th-street\/tower-45-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg\" data-orig-size=\"687,1024\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Tower-45-Manhattan\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg?w=687\" class=\"alignright wp-image-1004128757 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg\" alt=\"Tower 45 - Manhattan\" width=\"201\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg 687w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/09\/Tower-45-Manhattan.jpg?resize=201,300 201w\" sizes=\"auto, (max-width: 201px) 100vw, 201px\" \/><\/a><\/p>\n<p>It has been less than three months since <a href=\"https:\/\/slgreen.com\/\" rel=\"nofollow\">SL Green<\/a> announced plans to free up $642.8 million by selling Tower 45 in Midtown Manhattan and a mixed-use building in SoHo. As previously reported by<em> Commercial Property Executive<\/em>, <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/sl-green-cleans-house\/1004127700.html\" target=\"_blank\">the dispositions were meant to support <\/a>the $2.3 billion purchase of Eleven Madison Ave. in Manhattan\u2019s Midtown South section.<\/p>\n<p>Now, the city\u2019s largest office landlord has completed the sale of Tower 45\u2014a 40-story office building located at 120 W. 45 St. \u2014for $365 million, or approximately $830 per square foot. According to an earlier report by <a href=\"https:\/\/therealdeal.com\/blog\/2015\/07\/14\/kamber-management-is-the-buyer-of-tower-45\/\" rel=\"nofollow\">The Real Deal<\/a>, the buyer was identified as Kamber Management Co., a locally based real estate company. SL Green was represented by JLL\u2019s Richard Baxter and CBRE\u2019s Darcy Stacom in the transaction.<\/p>\n<p>Located in one of the hottest office markets in New York City, Tower 45 has been under SL Green\u2019s ownership since 2007. <a href=\"https:\/\/www.propertyshark.com\/mason\/OnePageReports\/report.html?propkey=15301&amp;newwindow=true\" rel=\"nofollow\">PropertyShark<\/a> data shows that the company acquired the 426,014-square-foot office building for $285 million, shortly after the office landlord took over Reckson Associates realty Corp. in a multi-billion merger.<\/p>\n<p><em>Image via PropertyShark<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why is New York City\u2019s largest office landlord selling off prominent assets?<\/p>\n","protected":false},"author":258,"featured_media":1004128757,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1600],"tags":[682],"class_list":["post-1004128253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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