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NEW YORK CITY-Following the closing of the merger with RecksonAssociates Realty Corp. earlier this month and positive increasesin FFO for 2006 and Q4, SL Green Realty Corp. executives said thefirm plans at least $750 million of dispositions this quarter. Tworecent building sales have already made that goal easilyattainable.

SL Green, SITQ Group, and SEB Immobilien-Investment GmbH soldOne Park Ave. for $550 million or $602 per sf. The building sold ata cap rate of 3.5%, CIO Andrew Mathias said during Tuesday'sinvestor conference. The 913,000-sf, 20-story office building waspurchased by SL Green in January 2001 and recapitalized in May ofthat year bringing SITQ in as a joint partner. Three years later75% of the property was sold to Credit Suisse who flipped itsportion to SEB. Maintaining 16.7% ownership, SL Green will receiveabout $108 million from the sale.