NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, today announced that it has sold 10 East 53rd Street for total consideration of $312.2 million to Meadow Partners, a vertically integrated real estate investment manager specializing in global middle-market transactions. The transaction, which is expected to close in the third quarter of 2026, subject to customary closing conditions, will generate net cash proceeds to the company of approximately $100.0 million that will be used for corporate debt repayment.

"This transaction is a meaningful step forward in the execution of our $2.5 billion 2026 strategic disposition plan and further validates the value creation achieved through our redevelopment and asset management initiatives," said Harrison Sitomer, President and Chief Investment Officer of SL Green. "Following our acquisition of the remaining ownership interest in the property in December 2024, we positioned the asset to capitalize on strong investor demand for high-quality, well-located Midtown assets, and we look forward to continuing to manage the property moving forward."

The 37-story, 390,000 square foot property, which is located in the heart of East Midtown between Fifth Avenue and Madison Avenue, is currently 92% leased. SL Green acquired the property in 2012 and subsequently completed a comprehensive redevelopment and repositioning of the building. In December 2024, SL Green acquired its partner's 45.0% interest in the property at a gross valuation of $236.0 million, resulting in the company owning 100% of the property prior to entering into this transaction.

Adam Spies, Adam Doneger and Avery Silverstein from Newmark advised on the transaction.

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 March 31, 2026, SL Green held interests in 55 buildings totaling 30.8 million square feet which included ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 3 buildings totaling 0.8 million square feet owned by third parties.

Forward Looking Statement

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

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SL Green Announces the Sale of 10 East 53rd Street