SL Green, which is acquiring a 35% ownership interest in thebuilding, will serve as operating partner in charge of leasing andmanagement. In-place rents are now $28.50 per sf, about 35% belowthe market rate.
SL Green is a self-administered REIT specializing in Manhattanoffice properties. The Morgan Stanley Fund is the real estateprivate equity business of Morgan Stanley Deal Witter. Both firmsare based here.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
