SL Green buys partner out of $190M Third Avenue tower

SL Green bought out its partner at 800 Third Avenue in a deal that values the 41-story office tower at $190 million. The Marc Holliday-led REIT bought the 39.5 percent stake in the 1970s-era office building from Larry Wohl’s Joseph P. Day, the company announced Friday. SL Green now owns 100 percent of the 750,000-square-foot property. Along with the buyout, the company modified and extended the tower’s $177 million mortgage. Chief Investment Officer Harry Sitomer said the transactions exemplify SL Green’s long-term outlook on what the real estate firm considers to be well-located Midtown Manhattan assets. “We continue to see […] This article originally appeared on The Real Deal. Click here to read the full story.