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Report: SL Green, partner seek buyers for 3-building NYC property

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Report: SL Green, partner seek buyers for 3-building NYC property

SL Green RealtyCorp. and partner Jeff Sutton are seeking to unload three interlinkedbuildings in Manhattan, N.Y.'s prime Soho neighborhood, The Real Deal reported April 11, citing unnamed sources.

The partners are considering either a full or partial sale ofthe buildings and have hired Eastdil Secured to market the assets. A full sale ofthe buildings could rake in roughly $450 million, according to the report.

Located at 530-536 Broadway, the buildings cover 194,500 squarefeet and stand 11 stories tall. The buildings consist of retail and office space,with retail tenants including Vince Camuto, Club Monaco and AT&T. Karl Fischerand Anomaly Partners, meanwhile, are among the office tenants at the buildings.

The report noted that a joint venture headed by Sutton, in whichSL Green made a $100 million investment, boughtthe assets from Thor Equities for $326 million in 2014. The REIT and Sutton alsoobtained a $200 million mortgage on the assets from Morgan Stanley.

Representatives from SL Green, Sutton and Eastdil declined tocomment on the matter, according to the publication.