SL Green and Rockpoint Announce Joint Venture for Ownership of 100 Park Avenue
Rhea-AI Summary
SL Green Realty (NYSE:SLG) and Rockpoint formed a joint venture after SL Green sold a 49% interest in 100 Park Avenue at a gross asset valuation of $425.0 million on January 6, 2026. The 36-story Midtown Manhattan tower totals 905,000 sq ft and includes a renovated amenity center with lounge, golf simulator, game room, training studio, and conference rooms.
Major in-place leases include Alphasights (10-year lease, 192,630 sq ft, signed March 2022) and Alvarez & Marsal (15-year lease, 220,221 sq ft, signed December 2024). Rockpoint has completed 106 U.S. office investments totaling 71 million sq ft over 31 years. Newmark advised on the transaction.
Positive
- 49% interest sale at a $425.0M gross asset valuation
- 905,000 sq ft building with recent amenity center renovations
- Existing secured leases: 192,630 sq ft (Alphasights) and 220,221 sq ft (Alvarez & Marsal)
- Partnered with Rockpoint, which has 106 office investments covering 71M sq ft
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
SLG is up about 0.98% while peers are mixed: CUZ -0.35%, KRC +0.24%, DEI +1.27%, CDP +1.03%, VNO +1.33%, suggesting a stock-specific response to the 100 Park Avenue JV.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 23 | Earnings date notice | Neutral | -1.4% | Announced timing for Q4 2025 earnings release and conference call. |
| Dec 16 | Preferred dividend | Neutral | -2.6% | Declared regular quarterly dividend on Series I Preferred Stock. |
| Dec 05 | Leasing update | Positive | -2.5% | Reported 2.3M sq ft of 2025 leases and strong occupancy targets. |
| Dec 05 | Debt fund closing | Positive | -2.5% | Closed Opportunistic Debt Fund with over $1.3B in commitments. |
| Dec 05 | Asset transaction | Positive | -2.5% | Increased stake in 800 Third Avenue and extended a $177M mortgage. |
Recent company updates, including leasing, capital raising and transactions, were followed by negative 24h price moves, suggesting a pattern of weak immediate reactions to fundamentally oriented news.
Over the past few months, SL Green has focused on leasing, capital formation and asset-level transactions. On Dec 5, 2025, it highlighted 2.3 million sq ft of 2025 leasing and a pipeline of 1.2 million sq ft, and separately announced a final close for its Opportunistic Debt Fund above $1.3 billion, plus transactions at 800 Third Avenue. It also declared preferred dividends and scheduled Q4 2025 earnings. Despite generally constructive updates, 24-hour price reactions were consistently negative, providing context for how investors previously treated operating news versus today’s joint venture announcement.
Market Pulse Summary
This announcement highlights SL Green’s sale of a 49% interest in 100 Park Avenue to Rockpoint at a $425.0 million valuation, reinforcing demand for high-quality Midtown Manhattan office assets. The tower has 905,000 square feet and is anchored by long-term leases with tenants like Alphasights and Alvarez & Marsal. In context of recent leasing momentum and past asset-level transactions, investors may watch future occupancy, rent trends and additional joint ventures.
Key Terms
joint venture financial
private equity firm financial
AI-generated analysis. Not financial advice.
NEW YORK, Jan. 06, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, and Rockpoint, a Boston-based real estate private equity firm, today announced a joint venture for the ownership of 100 Park Avenue through SL Green’s sale of a
“We’re excited to begin our partnership with Rockpoint at 100 Park Avenue in a transaction that underscores the strength of high-quality office assets in premier locations in an improving Manhattan office market,” said Harrison Sitomer, Chief Investment Officer at SL Green.
“We have known the SL Green team for a long time and look forward to partnering to maintain and enhance 100 Park’s positioning as a highly desirable midtown office destination,” said Dan Domb, a Managing Member and Chief Operating Officer at Rockpoint. “Office has been a significant focus for Rockpoint throughout our 31-year history, we know the asset class extremely well and have always been disciplined about investing. As our first significant post-COVID office investment, 100 Park represents the kind of highly targeted opportunity that we find attractive today given the vibrancy of New York and the favorable supply/demand dynamics for high quality and extremely well-located properties like this one.”
Located steps away from Grand Central Terminal, 100 Park Avenue is a 36-story, 905,000-square-foot office tower in Midtown Manhattan. The building boasts a recently renovated amenity center on the second floor, offering a state-of-the-art lounge, golf simulator, game room, personal training studio, and conference rooms. Major tenants include Alphasights, which signed a 10-year lease for 192,630 square feet in March 2022, and Alvarez & Marsal Holdings, LLC, which signed a 15-year lease for 220,221 square feet in December 2024.
SL Green’s portfolio on Park Avenue includes the newly acquired Park Avenue Tower, One Vanderbilt Avenue, 500 Park Avenue, 450 Park Avenue, 280 Park Avenue, 245 Park Avenue and 125 Park Avenue.
A longtime office investor, Rockpoint has made 106 office investments in the U.S. over the past three decades, representing 71 million square feet.
Adam Spies and Doug Harmon of Newmark advised on the transaction.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of September 30, 2025, SL Green held interests in 53 buildings totaling 30.7 million square feet. This included ownership interests in 27.1 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.
About Rockpoint
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm’s co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 512 transactions with a total peak capitalization of approximately
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include the risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG – A&D
Press Contacts
For SL Green:
slgreen@berlinrosen.com
For Rockpoint:
Sarah Salky / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
rockpoint-jf@joelefrank.com
FAQ
What stake did Rockpoint acquire in 100 Park Avenue from SLG on January 6, 2026?
At what valuation was SLG's 49% interest in 100 Park Avenue sold?
How large is 100 Park Avenue and what amenities were highlighted?
Which major tenants occupy large leases at 100 Park Avenue and when were they signed?
How experienced is Rockpoint in U.S. office investing according to the announcement?
Who advised on the SLG and Rockpoint transaction for 100 Park Avenue?
