SL Green Sells SoHo Office Building to Natora Group for $226M
Event summary
- SL Green Realty Corp. agreed to sell 110 Greene Street in SoHo to Natora Group for $226.0 million.
- The transaction is expected to close in Q4 2026, generating approximately $216.0 million in net cash proceeds.
- The 13-story, 223,000-square-foot Class A office building was fully leased at market-leading rents.
- Proceeds will be used to repay unsecured corporate debt.
The big picture
SL Green’s sale of 110 Greene Street underscores the continued interest in high-quality SoHo office properties, even as broader market dynamics shift. The transaction aligns with the REIT’s strategy of monetizing stabilized assets to strengthen its financial position. With $226.0 million in proceeds, the deal highlights the liquidity available for well-located Manhattan office buildings, despite broader sector challenges.
What we're watching
- Debt Strategy
- How SL Green will allocate the $216.0 million in net proceeds to optimize its balance sheet.
- Market Demand
- Whether the sale price reflects sustained investor appetite for prime Manhattan office assets.
- Portfolio Focus
- The pace at which SL Green continues to divest non-core properties to streamline its portfolio.