SL Green Realty Corp. has entered into an agreement to sell 110 Greene Street in Soho to Natora Group for $226.0 million. The transaction is expected to close in the fourth quarter, subject to customary closing conditions, and generate approximately $216.0 million of net cash proceeds that will be used to repay unsecured corporate debt.
“Our team executed a successful leasing strategy at 110 Greene, bringing the building to full occupancy at market-leading rents,” said Harrison Sitomer, president and chief investment officer of SL Green. “This transaction further signifies the depth of domestic and international buyers in the market across varying property types.”
Located in SoHo between Prince and Spring Streets, 110 Greene Street is a 13-story, 223,000-square-foot Class A office building with four exposures and frontages on both Greene and Mercer Streets. The property is home to Balenciaga’s New York flagship store.
Gary Phillips, Will Silverman and Carly Shoulberg of Eastdil Secured advised SL Green on the transaction.
