SL Green Consolidates With SITQ in Times Square

NEW YORK CITY-In its latest joint venture, SL Green Realty Corp. consolidated full ownership at 1515 Broadway in Times Square, buying out SITQ’s interest in the building. The company confirms value of its combined interests at $1.21 billion. A spokesperson for SL Green tells GlobeSt.com that SL Green previously carried a 68.45% share in the building–approximately $828.2 million–while SITQ held a 31.55% piece, or approximately $381.7 million, calculated based on percentages provided by SL Green.

While both parties would not comment on any other potential joint ventures in the works, SL Green President Andrew Mathias notes in a press statement that the company “looks forward to joining SITQ in making future investments,” describing the 1.75 million square foot, 54-story office skyscraper as one of their “premier assets” which they “expect to own for many years to come.”