trending Market Intelligence /marketintelligence/en/news-insights/trending/enclGPCpyzbKpOK3n7T5UQ2 content esgSubNav
In This List

SL Green agrees to acquire Manhattan, NY, office building

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


SL Green agrees to acquire Manhattan, NY, office building

SL Green Realty Corp. agreed to acquire the 603 W. 50th St. office building in Manhattan, N.Y., from an undisclosed seller.

The six-story, 160,000-square-foot office property is currently occupied by KCP Holdco Inc., which is an affiliate of the seller.

KCP Holdco will lease back roughly 40,000-square-feet at the property for its headquarters.

SL Green plans a full-building repositioning to elevate the property's profile through infrastructure upgrades.

The office real estate investment trust will partially fund the acquisition with proceeds from the sale of 1010 Washington Blvd. in Stamford, Conn.

The transaction is expected to close within the next 90 days, subject to customary closing conditions.