SL Green Announces Acquisition of 346 Madison Avenue
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has announced a strategic acquisition of 346 Madison Avenue and the adjacent 11 East 44th Street for $160.0 million. The transaction is expected to close in Q4 2025.
The combined properties can accommodate approximately 800,000 rentable square feet under East Midtown rezoning. Located near One Vanderbilt, this acquisition represents an opportunity for SL Green to develop a world-class office building in Midtown East, featuring modern amenities, column-free floors, and healthy workplace infrastructure to meet robust tenant demand for new construction.
SL Green Realty Corp. (NYSE:SLG), il più grande proprietario di uffici a Manhattan, ha annunciato l'acquisizione strategica di 346 Madison Avenue e dell'adiacente 11 East 44th Street per $160,0 milioni. L'operazione è prevista in chiusura nel quarto trimestre del 2025.
Le proprietà combinate potrebbero ospitare circa 800.000 piedi quadrati affittabili secondo il nuovo piano di ristrutturazione di East Midtown. Situata vicino a One Vanderbilt, questa acquisizione offre a SL Green l'opportunità di sviluppare un edificio per uffici di livello mondiale a Midtown East, con servizi moderni, piani senza colonne e infrastrutture per ambienti di lavoro salutari per rispondere alla forte domanda di immobili di nuova costruzione.
SL Green Realty Corp. (NYSE:SLG), el mayor propietario de oficinas en Manhattan, ha anunciado la adquisición estratégica de 346 Madison Avenue y el contiguo 11 East 44th Street por $160.0 millones. La transacción se espera que se cierre en el cuarto trimestre de 2025.
Las propiedades combinadas podrían albergar aproximadamente 800.000 pies cuadrados rentables según la rezonificación de East Midtown. Ubicada cerca de One Vanderbilt, esta compra representa una oportunidad para que SL Green desarrolle un edificio de oficinas de primer nivel en Midtown East, con comodidades modernas, plantas sin columnas e infraestructura de trabajo saludable para satisfacer la sólida demanda de espacios nuevos.
SL Green Realty Corp. (NYSE:SLG)는 맨해튼 최대 사무실 부동산 소유주로서 346 Madison Avenue와 인접한 11 East 44th Street를 $160.0 million에 전략적으로 인수한다고 발표했습니다. 거래는 2025년 4분기 마감될 예정입니다.
재개발된 이스트 미드타운 기준으로 합산 부동산은 약 800,000 임대 가능 평방피트를 수용할 수 있습니다. One Vanderbilt 인근에 위치한 이번 인수는 SL Green가 미드타운 이스트에 세계적 수준의 사무용 빌딩을 개발할 기회를 제공하며, 현대적 편의시설, 기둥 없는 층 구조, 건강한 업무 인프라를 갖춰 신축에 대한 강한 임차인 수요를 충족시킬 수 있습니다.
SL Green Realty Corp. (NYSE:SLG), le plus grand propriétaire de bureaux à Manhattan, a annoncé l'acquisition stratégique du 346 Madison Avenue et de l'immeuble adjacent 11 East 44th Street pour 160,0 millions de dollars. La transaction devrait se finaliser au quatrième trimestre 2025.
Les biens combinés pourraient offrir environ 800 000 pieds carrés louables dans le cadre du rezonage d'East Midtown. Située près de One Vanderbilt, cette acquisition donne à SL Green l'opportunité de développer un immeuble de bureaux de classe mondiale à Midtown East, avec des équipements modernes, des étages sans colonnes et une infrastructure de travail saine pour répondre à la forte demande des locataires pour des constructions neuves.
SL Green Realty Corp. (NYSE:SLG), Manhattans größter Bürovermieter, hat den strategischen Erwerb von 346 Madison Avenue und dem benachbarten 11 East 44th Street für $160,0 Millionen angekündigt. Der Abschluss der Transaktion wird für das vierte Quartal 2025 erwartet.
Die kombinierten Immobilien könnten nach der Umzonung von East Midtown rund 800.000 vermietbare Quadratfuß bieten. In der Nähe von One Vanderbilt gelegen, bietet diese Akquisition SL Green die Möglichkeit, ein erstklassiges Bürogebäude in Midtown East zu entwickeln, mit modernen Annehmlichkeiten, stützenfreien Etagen und einer gesunden Arbeitsplatzinfrastruktur, um die starke Nachfrage nach Neubauten zu bedienen.
- Strategic acquisition of prime Midtown East location near One Vanderbilt
- Large development potential of 800,000 rentable square feet
- Property located in high-demand area with strong office market fundamentals
- Opportunity for ground-up development of modern office space with premium amenities
- Significant capital investment required for $160 million acquisition
- Development timeline and additional construction costs could impact near-term financials
- Execution risks associated with large-scale development project
Premier Midtown Development Site
NEW YORK, Sept. 02, 2025 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that it has entered into a contract to purchase 346 Madison Avenue and the adjacent site at 11 East 44th Street, for
“These assets are in an exceptional location just steps from One Vanderbilt. As we continue to prioritize well-located opportunities in our core sub-markets, these properties provide us the opportunity to pursue a world-class, ground-up new office development in the heart of the strongest office market in the country. We look forward to capitalizing on this unique investment to unlock its long-term value,” said Harrison Sitomer, Chief Investment Officer at SL Green.
The acquisition of the two adjoining buildings represents a strategic opportunity to create a best-in-class new building on a prominent development site in the heart of Midtown East. Combined, these properties can accommodate approximately 800,000 rentable square feet, pursuant to East Midtown rezoning. Tenant demand for new construction featuring forward thinking amenitization, column free floors, healthy workplace infrastructure and transit convenience remains robust and this site represents one of the finest opportunities to meet that demand.
Drew Isaacson and David Giancola of JLL 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 June 30, 2025, SL Green held interests in 53 buildings totaling 30.7 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.
Forward Looking Statement
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