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Moinian Group buys out SL Green in 3 Columbus Circle building in NYC

The Moinian Group finalized its buyout of office real estate investment trust SL Green Realty Corp.'s stake in the 26-story 3 Columbus Circle building in New York City.

The REIT earlier said it expects the stake sale to yield net consideration of about $223.0 million.

Moinian now fully owns the property, which also houses its headquarters. The 100%-leased office property, formerly known as the Newsweek Building, has retail space on the ground floor and is anchored by Nordstrom Inc., Chase and CVS.

Moinian develops, owns and operates commercial, residential and hotel properties in the U.S.