Big Deals Abound for SL Green

NEW YORK CITY-It’s been a busy few weeks for SL Green Realty Corp. The company, along with joint venture partner JP Morgan, has reached an agreement to sell One Court Square, the 1.4-million-square-foot office tower in Long Island City fully leased to Citibank, N.A. And in Lower Manhattan, the company has formed a joint venture with the Moinian Group to recap 180 Maiden Lane—providing SL Green with a 49.9% interest in the 1.1-million-square-foot property.

One Court Square will be bought by a private investor group for roughly $340 per square foot. According to Real Capital Analytics, the group includes Joel Schreiber, the owner of Waterbridge Capital and David Werner. It’s anticipated that the transaction, which includes $315 million of existing debt, will net SL Green $42.8 million.