SL Green Sells UES Properties

1231 Third Ave.

NEW YORK CITY—SL Green Realty Corp. signed a contract to sell 1231 Third Ave., and an assemblage of four properties on E. 72nd Street with 31,076 square feet of development rights for $143.8 million. The REIT declined to disclose the buyer’s identity.

SL Green purchased 1231 Third Ave. in July 2018 from Thor Equities, which had taken a mezzanine loan secured by the building. Crain’s had reported Thor had acquired the building in 2013 for $52.5 million and had relinquished the building at a costly loss. The property, which is at 71st St. has 20 residential units, currently 100% occupied and 16,418 square feet of retail, with 8,159 square feet at the ground level now leased.