(Read more on the debt and equitymarkets.)
NEW YORK CITY-Locally based, SL Green Realty Corp., aself-administered and self-managed REIT, and Gramercy CapitalCorp., a New York City-based majority-owned subsidiary of SL Green,have agreed to pay $317 million for a 79% fee interest and 21%leasehold interest in the property located at 885 Third Ave.,better known as the Lipstick Building.
Gramercy owns 45% of the investment in the 607,000-sf, 34-story,class A office building, with SL Green owning the remaining 55%stake. The transaction was financed with a $267.7-million, 10-yearfixed rate loan by Goldman Sachs Commercial Mortgage Capital.Simultaneously, both companies have entered into a 70-yearleasehold/sub-leasehold arrangement for the building.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
