NEW YORK—SL Green Realty has announced two deals in the last 24hours. In one, the REIT has entered into a contract to sell itsrecently repositioned 609 Fifth Ave. retail condominium for $168million 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 ofKorea and Hines Interest LP. SL Green and Hines will co-develop a$2.3 billion project at the site, which will span 1.4 millionrentable square feet upon completion.

609 Fifth Ave.

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

Starting in 2018, SL Green began repositioning the building,located at the corner of Fifth Avenue and 49th Street in the heartof Manhattan's Gold Coast. It vacated the previous tenants in theoffice condominium portion of the property and relocated the officelobby onto 49th Street, increasing the retail frontage on FifthAvenue. Then two new premier tenants were secured for the retailcondominium: a 15-year, 24,000 square-foot flagship lease withsports apparel brand PUMA, which has a three-level retail spacewith double-height storefronts across 160 feet of wraparoundfrontage, and a 10-year, 5,000 square-foot lease with Vince, aglobal luxury apparel and accessories brand.