220 East 42nd St.

NEW YORK CITY — SL Green Realty Corp. is selling 220 East 42nd St. in Midtown Manhattan tagging the asset at $815 million, or approximately $715 per square foot. The transaction is expected to close in Q1 2020 and subject to customary closing conditions. Cushman & Wakefield is launching the marketing process.

As one of the city’s largest office landlords, SL Green will use the sale proceeds to buy back stock shares. The investment approach is low leverage, according to SL Green’s Co-Chief Investment Officer Isaac Zion, in a prepared statement.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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