SL Green Sells 49% Stake in East Midtown Development

Deal Summary

SL Green Realty Corp. closed the sale of a 49% joint‑venture interest in the 346 Madison Avenue development to Japan’s Mori Building Co., Ltd. for a gross valuation of $175 million. SL Green retains a 51% stake and will serve as the development and leasing manager for the 46‑floor, 850,000‑sq‑ft office tower.