SL Green Announces Sale of Suburban Office Building


SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial

property owner, today announced that it has reached an agreement to sell

500 West Putnam Avenue, a 121,500-square-foot office property located in

Greenwich, Connecticut, for a gross sale price of $41 million, or $337

per square foot. The transaction is expected to close in the second

quarter of 2016, subject to customary closing conditions.

SL Green Co-Chief Investment Officer, Isaac Zion, commented, “This

transaction is a continuation of our plan to strategically monetize

assets that are not core to SL Green and generate incremental equity

proceeds that can be applied to the Company’s balance sheet.”

Jeff Dunne of CBRE represented SL Green in the transaction.

About SL Green Realty Corp.

SL Green Realty Corp., an S&P 500 company and New York City’s largest

office landlord, is a fully integrated real estate investment trust, or

REIT, that is focused primarily on acquiring, managing and maximizing

value of Manhattan commercial properties. As of March 31, 2016, the

Company held interests in 121 Manhattan buildings totaling 47.7 million

square feet. This included ownership interests in 29.9 million square

feet of commercial buildings and debt and preferred equity investments

secured by 17.8 million square feet of buildings. In addition, the

Company held ownership interests in 31 suburban buildings totaling 4.9

million square feet in Brooklyn, Long Island, Westchester County,

Connecticut and New Jersey.


Isaac Zion
Co-Chief Investment Officer
Matt DiLiberto

Financial Officer

Source: SL Green Realty Corp.

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