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SL Green to sell SoHo office building at 110 Greene St for $226M
The deal is expected to close in the fourth quarter and would generate $216M of cash for SL Green, which plans to use proceeds to pay down corporate debt.
SL Green has agreed to sell 110 Greene St. in Manhattan’s SoHo for $226M, the office REIT announced Wednesday. The buyer is Manhattan-based Natora Group, and the transaction involves a 13-story property spanning 223,000 square feet.
SL Green acquired a 90% interest in the building in 2015 at a $255M valuation, and the current sale price reflects the weaker performance of older office assets that sit farther from transit hubs. The REIT said 110 Greene is not encumbered by a mortgage, according to its 2025 annual report.
The company expects the sale to close in the fourth quarter, and said it would generate $216M of cash. SL Green also reported that it brought the building to full occupancy at market-leading rents, and that the property was 95% leased at the end of 2025 to 52 tenants.
SL Green said it plans to use proceeds from the sale to pay off corporate debt. The REIT also noted it has been shedding assets after announcing a plan to sell $2.5B worth of properties, and it cited a 6% dip in NYC investment sales between the first and second quarters as the city’s market cooled.