Greenberg Traurig Advises SL Green on $312.2M Sale of Midtown Manhattan Office Property

Q: How large is SL Green’s 10 East 53rd Street building that was sold for $312.2 million (SLG)?

The 10 East 53rd Street property comprises about 390,000 square feet across 37 stories. According to SL Green, this Midtown East office building is situated between Fifth and Madison Avenues and was 92% leased at the time of sale.

Q: What was the occupancy rate of SL Green’s 10 East 53rd Street at the time of its sale (SLG)?

The building was 92% leased when it was sold. According to SL Green, this high occupancy applied to the 37-story, 390,000-square-foot Midtown East office property at 10 East 53rd Street that closed for $312.2 million.

Q: When did SL Green (SLG) announce the $312.2 million sale of 10 East 53rd Street?

The sale was announced on August 18, 2026 . According to SL Green, the transaction covered the 37-story, 390,000-square-foot office building at 10 East 53rd Street in Midtown East, which was 92% leased at the time of the deal.

Q: Where is SL Green’s former property at 10 East 53rd Street, sold for $312.2 million (SLG), located?

The property is located in Midtown East, Manhattan , between Fifth and Madison Avenues. According to SL Green, the asset is a 37-story, 390,000-square-foot office building that was 92% leased when sold for $312.2 million.

Q: What type of asset did SL Green (SLG) sell for $312.2 million at 10 East 53rd Street?

SL Green sold a 37-story office building at 10 East 53rd Street. According to SL Green, the property totals about 390,000 square feet, is in Midtown East between Fifth and Madison Avenues, and was 92% leased at closing.

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

SL Green Realty (NYSE: SLG) completed the $312.2 million sale of 10 East 53rd Street, a 37-story, 390,000-square-foot office tower in Midtown East, Manhattan. The property, situated between Fifth and Madison Avenues, was disclosed as 92% leased at the time of the transaction.

Positive

$312.2 million asset sale of 10 East 53rd Street
Property was 92% leased at time of sale
Disposal of a 390,000-square-foot Midtown East office tower

Negative

None.

Market Context

The platform record places this property-sale announcement alongside a prior SLG news reaction of 6....

Analysis

The platform record places this property-sale announcement alongside a prior SLG news reaction of 6.96%, while moderate short positioning adds volatility risk; subsequent filings could clarify proceeds and balance-sheet treatment.

Key Figures

Sale value: $312.2 million Building height: 37 stories Building size: 390,000 square feet +1 more

4 metrics

Sale value $312.2 million Sale of 10 East 53rd Street

Building height 37 stories 10 East 53rd Street office building

Building size 390,000 square feet 10 East 53rd Street office building

Leased percentage 92% Current leasing status of the office building

Historical Context

5 past events · Latest: Jul 22 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 22	Lease signing	Positive	+7.0%	Signed 98,420-square-foot lease and reported expanded 2026 office leasing volume
Jul 22	Earnings report	Positive	+7.0%	Raised 2026 FFO guidance and disclosed property-sale and leasing activity
Jul 16	Business expansion	Positive	-0.4%	Announced agreement to bring SUMMIT observatory experience to Tokyo
Jun 22	Earnings scheduling	Neutral	-2.0%	Scheduled release of second-quarter 2026 financial results
Jun 17	Dividend declaration	Positive	+3.4%	Declared quarterly common-stock dividend payable in cash

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

SLG's recent news reactions were generally positive but included two divergences when neutral or favorable announcements were followed by negative price reactions.

Key Terms

joint venture

1 terms

joint venture financial

"including the recent sale of a joint venture interest in the development of 346 Madison Avenue"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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08/18/2026 - 07:30 PM

NEW YORK, Aug. 18, 2026 /PRNewswire/ -- Global law firm Greenberg Traurig, LLP represented SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, in the $312.2 million sale of 10 East 53rd Street.

The 37-story, 390,000-square-foot office building, located in Midtown East between Fifth and Madison Avenues, is currently 92% leased, according to a statement by SL Green.

The Greenberg Traurig deal team was led by New York Real Estate Practice Co-Chair Adam M. Goldstein and included Associates Shimmy (Shimon) Friedlander and Tatiana Codner, as well as Paralegal Supervisor Tana Brkani.

The deal is the latest in a series of transactions Greenberg Traurig has advised on for longstanding client SL Green, including the recent sale of a joint venture interest in the development of 346 Madison Avenue.

About Greenberg Traurig: Greenberg Traurig, LLP has more than 3,200 lawyers across 51 locations in the United States, Europe, the Middle East, Latin America, and Asia. The firm's broad geographic and practice range enables the delivery of innovative and strategic legal services across borders and industries. Recognized as a 2025 BTI "Best of the Best Recommended Law Firm" by general counsel for trust and relationship management, Greenberg Traurig is consistently ranked among the top firms on the Am Law Global 100, NLJ 500, and Law360 400. Greenberg Traurig is also known for its philanthropic giving, culture, innovation, and pro bono work. Web: www.gtlaw.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/greenberg-traurig-advises-sl-green-on-312-2m-sale-of-midtown-manhattan-office-property-302854588.html

SOURCE Greenberg Traurig, LLP

FAQ

What property did SL Green (SLG) sell for $312.2 million in August 2026?

SL Green sold 10 East 53rd Street, a 37-story office tower in Midtown East, for $312.2 million. According to SL Green, the building totals about 390,000 square feet and is located between Fifth and Madison Avenues in Manhattan.

How large is SL Green’s 10 East 53rd Street building that was sold for $312.2 million (SLG)?

The 10 East 53rd Street property comprises about 390,000 square feet across 37 stories. According to SL Green, this Midtown East office building is situated between Fifth and Madison Avenues and was 92% leased at the time of sale.

What was the occupancy rate of SL Green’s 10 East 53rd Street at the time of its sale (SLG)?

The building was 92% leased when it was sold. According to SL Green, this high occupancy applied to the 37-story, 390,000-square-foot Midtown East office property at 10 East 53rd Street that closed for $312.2 million.

When did SL Green (SLG) announce the $312.2 million sale of 10 East 53rd Street?

The sale was announced on August 18, 2026. According to SL Green, the transaction covered the 37-story, 390,000-square-foot office building at 10 East 53rd Street in Midtown East, which was 92% leased at the time of the deal.

Where is SL Green’s former property at 10 East 53rd Street, sold for $312.2 million (SLG), located?

The property is located in Midtown East, Manhattan, between Fifth and Madison Avenues. According to SL Green, the asset is a 37-story, 390,000-square-foot office building that was 92% leased when sold for $312.2 million.

What type of asset did SL Green (SLG) sell for $312.2 million at 10 East 53rd Street?

SL Green sold a 37-story office building at 10 East 53rd Street. According to SL Green, the property totals about 390,000 square feet, is in Midtown East between Fifth and Madison Avenues, and was 92% leased at closing.