SL Green Announces Series of Transactions at 800 Third Avenue
Consolidates 100% Ownership of the Asset and Extends Mortgage Debt
NEW YORK, Dec. 05, 2025 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that it has closed on the acquisition of its joint venture partners’ combined 39.48% interest in 800 Third Avenue for total cash consideration of $5.1 million and completed a modification and extension of the property’s existing $177.0 million mortgage. SL Green’s ownership stake in the asset is now 100%.
The mortgage modification extended the maturity date from February 2026 to February 2031, inclusive of all available extension options. The interest rate was maintained at 1.70% over Term SOFR, which the company fixed at 5.03% from February 2026 through the initial maturity date in February 2029.
“These strategic transactions exemplify SL Green’s long-term outlook on well-located Midtown Manhattan assets and demonstrate our ability to execute loan modifications that extend our maturity profile while maintaining accretive terms,” said Harrison Sitomer, Chief Investment Officer of SL Green. “We continue to see strong momentum on Third Avenue, with residential conversions helping reposition the corridor for strong office sector growth.”
800 Third Avenue is a 41-story glass and steel office tower located between 49th and 50th Streets on the east side of Midtown Manhattan. The building features sweeping Manhattan and Hudson River views and benefits from close proximity to Grand Central Terminal as well as the 4, 5, 6, E, and M subway lines.
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 September 30, 2025, SL Green held interests in 53 buildings totaling 30.7 million square feet. This included ownership interests in 27.1 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.
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