SL Inexperienced is promoting a SoHo constructing for greater than $225 million, the newest deal within the firm’s $2.5 billion selloff plan.
The REIT led by Marc Holliday struck a deal to promote 110 Greene Road to the Natora Group for $226 million, SL Inexperienced introduced Wednesday.
Natora Group is shopping for the retail-and-office buildings via a 1031 exchange with proceeds from the sale of business buildings to the Blackstone Group, in line with a supply aware of the deal.
The deal works out to greater than $1,000 per sq. foot for the 13-story, 223,000-square-foot 100 Greene Road, the place Spanish luxurious vogue home Balenciaga is the primary retail tenant.
Eastdil Secured brokered the deal.
It’s the newest big-ticket sale for SL Inexperienced, which on the finish of final 12 months stated it plans to sell $2.5 billion value of actual property in response to increased rates of interest.
In January, the agency bought a minority stake within the 900,000-square-foot constructing at 100 Park Avenue to Rockpoint at a $425 million valuation. The corporate put the 600,000-square-foot constructing at 1350 Sixth Avenue up on the market in March, eyeing a price ticket of round $360 million.
And over the summer season, the REIT bought 10 East 53rd Street to Meadow Companions for $312 million.
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