SL Green brings Mori Building in as partner on Madison Ave office development
SL Green brought its frequent partner Mori Building in to help develop its latest office tower. The REIT sold a 49 percent stake in the project at 346 Madison Avenue to Mori Building, which has teamed up with SL Green on One Vanderbilt and 245 Park Avenue. The deal values the property — which will eventually give way to an 850,000-square-foot office tower — at $175 million. “Tenant demand for the highest-quality, best-located, and most thoughtfully designed buildings far exceeds available supply,” said SL Green CEO Marc Holliday, who added that now is “the perfect time” to develop the tower. […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Where does New York’s development pipeline go from
here?
The problem with Mamdani’s tenant takeover plan
How new dev is transforming the UES
Meg Ryan sells Bridgehampton home to Broadway
producer
Gary Barnett eyeing $3.8B loan for UWS supertall
project
Legion Investment Group, SMA Equities partner on new UES
resi development
Floyd Mayweather drops lawsuit against Jona Rechnitz
Climbing mortgage rates widen NYC’s buyer divide
The Correction Will Get Even More Severe | Sept. 2026
Housing Market Update
You’ve Got a 100% Financing Deal. Do You Take It? (Rookie
Reply)
