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
Soft Staging Ideas to Make Your Home More Inviting
Extell snaps up Midtown office building long rumored to be
part of assemblage
UK firm targets Boston for stateside ground-up development
debut
L3 Capital lands Zara in Williamsburg retail
development
Downsizing Checklist: 10 Steps for Moving to a Smaller
Home
Moving Supplies Checklist: Everything You Need for Moving
Day
What Types of Properties Benefit Most From Cost
Segregation?
BiggerPockets Selects Mynd as Its Preferred Full-Service
Property Management Partner
Lease Red Flags Every Renter Should Know Before
Signing
Weekend Recap: The Battle for Unique Inventory
