NEW YORK CITY-Deka Immobilien is the new owner of 19 W. 44th St. to tune of $123.2 million. The property, sold was SL Green Realty Corp., is a 292,000-square-foot, class B office on the "Club Row" section between Fifth and Sixth avenues.
SL Green will continue to manage and lease the property under an agreement with the new owners. The former owner previously acquired the property in 2004 for $67 million, banking a $118-million profit with the sale to Deka. The proceeds, SL Green explains, will be reinvested in connection with its 125 Park Ave. purchase.
The property underwent a repositioning under SL Green's tenure, altering its lobby, windows and HVAC systems, among other revamps. Darcy Stacom and William Shanahan from CBRE repped SL Green.
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