SL Green Realty Sells Retail Condos for $13.25 Mil

NEW YORK CITY-The REIT bought the condominiums three years ago for $9.8 million. The acquiring company is controlled by Joseph Nakash, a principal of Jordache Enterprises.

By John Howe | Updated on December 01, 2000

NEW YORK CITY-Third Avenue Realty LLC is buying the retail condominium interests at 633 Third Ave. from SL Green Realty for $13.25 million. SL Green purchased the units for $9.8 million in Dec. 1997 and is selling them as part of its strategy to consolidate its portfolio of core office buildings.

The condominium units occupy 40,623 sf on the ground and concourse floors of the 41-story building, which is located between 40th and 41st Streets. The property is leased to Chase Manhattan Bank and an affiliate of New York Sports Club.

Third Avenue Realty is owned by Joseph Nakash, a principal of Jordache Enterprises Inc. SL Green Realty is a self-administered REIT that deals in Manhattan office properties.

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