Overview
- The company announced the deal on Monday, June 1, 2026, agreeing to sell 10 East 53rd Street to Meadow Partners for $312.2 million with a close expected in the third quarter of 2026.
- SL Green said the transaction will generate about $100 million in net cash proceeds that the REIT will use to repay corporate debt.
- The asset is a 37‑story, 390,000‑square‑foot Midtown East office tower that SL Green redeveloped, is about 92 percent leased, and houses office and retail tenants including Compass, Swarovski North America, Equinox Fitness, and Metropolitan Bank.
- Newmark advised the sale and, according to reporting, Meadow Partners is working with Newmark brokers on acquisition financing that aims for roughly a 50 percent loan‑to‑value debt package.
- The deal advances SL Green’s $2.5 billion 2026 strategic disposition program by monetizing value created through redevelopment while the REIT will continue to manage the building for the new owner.