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609-Fifth-Ave 609 Fifth Ave. Photo by SL Green.

NEW YORK—SL Green Realty has announced two deals in the last 24 hours. In one, the REIT has entered into a contract to sell its recently repositioned 609 Fifth Ave. retail condominium for $168 million to an affiliate of the Reuben Brothers. In the second, announced this morning, SL Green reports that it has sold a 49.5% interest in One Madison Ave. to the National Pension Service of Korea and Hines Interest LP. SL Green and Hines will co-develop a $2.3 billion project at the site, which will span 1.4 million rentable square feet upon completion.

609 Fifth Ave.

The first transaction is scheduled to close in the second quarter of 2020.

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Erika Morphy


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