SL Green announces sale of 609 Fifth Avenue in NYC

SL Green Realty Corp. has sold the vacant office condominium at 609 Fifth Avenue in Manhattan to a domestic investor for a gross sale price of $100.5 million.

“SL Green continues to work aggressively to drive value for our shareholders through strategic dispositions that generate incremental liquidity for reinvestment and debt repayment,” said Harrison Sitomer, CIO of SL Green. “The sale of 609 Fifth Avenue is evidence of the continued demand and premium valuation for well-located assets in Midtown East.”

609 Fifth Avenue is located in the heart of Manhattan’s retail district on the corner of Fifth Avenue and 49th Street. The office condominium benefits from work performed as part of SL Green’s repositioning of the entire building, which included a new core and elevators in addition to relocating the office lobby from Fifth Avenue to 49th Street. In May 2020, SL Green sold the retail condominium to an affiliate of the Reuben Brothers for $168 million.