SL Green Realty Corp. has sold its ownership interest in 707 Eleventh Avenue for a gross sale price of $95 million to a domestic buyer. SL Green purchased the 160,000-square-foot, loft-style building in January 2020 for $90 million. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions. Proceeds from the sale are expected to be used for the repayment of corporate debt.
“The sale of 707 Eleventh Avenue demonstrates investor demand for quality, value-add investment opportunities in New York City,” said Harrison Sitomer, senior vice president of SL Green.
