SL Green to sell office building in Manhattan for $305m

SL Green Realty Corp. has sold 600 Lexington Avenue, a 36-story, 303,515 square foot Midtown Manhattan office building, for a gross sales price of $305.0 million, or $1,005 per square foot.

The buyer was not disclosed.

The sale is expected to generate net cash proceeds of approximately $292 million.

The property is currently 99 percent leased. Tenants include MKP Management, Element Capital Management and Hawkins Parnell Thackston & Young.

This transaction is expected to close by the first quarter of 2018, subject to customary closing conditions.

SL Green acquired the property in May 2010 for $193 million, through a joint venture, and subsequently took full ownership of the property in December 2015.