SL Green Lists Two Prime NYC Buildings for Sale Amid Rising Office Demand

SL Green, Manhattan's largest office landlord, is reportedly selling a SoHo office building and a midtown property on Madison Avenue as demand for Manhattan office properties increases. The move comes as the real estate market in New York City continues to recover from the pandemic. The sale is expected to be one of the largest office property deals in the city this year.

In a significant move for the New York City real estate market, SL Green Realty Corp., Manhattan's largest office landlord, is marketing two prominent office properties for sale. The company has hired brokerage Eastdil Secured to sell 110 Greene St. in SoHo and 690 Madison Ave. in Midtown, reflecting a growing demand for office spaces in the city [1].

The 13-story 110 Greene St. building, which houses a Balenciaga store, is expected to fetch around $300 million, according to a person familiar with the matter. Meanwhile, 690 Madison Ave., which houses jeweler Van Cleef & Arpels, is also part of the portfolio, with a similar price tag [1]. The properties are being marketed as a unique opportunity to access two highly desirable markets in global real estate.

The Manhattan office market has shown signs of recovery, with leasing up 59% from a year earlier in the three months through March, as reported by CBRE Group Inc. [1]. This trend has attracted investors seeking to strike deals, with Amazon.com Inc. and RXR recently acquiring office towers in the city [1].

Brookfield is also making moves in the area, with a preferred equity investment in 63 Madison Avenue, a 15-story office building in Midtown. Brookfield is acquiring a 49% stake valued at $400 million in the building, which is 76% leased [2]. This investment comes as a recapitalization rather than an outright sale of a minority interest.

The sales of these properties by SL Green are expected to be one of the largest office property deals in the city this year, reflecting the recovering real estate market in New York City. The transactions highlight the renewed interest in Manhattan office properties and the potential for significant investment opportunities in the area.

References:
[1] https://www.bloomberg.com/news/articles/2025-06-05/nyc-buildings-in-midtown-soho-are-going-up-for-sale-by-sl-green
[2] https://commercialobserver.com/2025/06/brookfield-investment-63-madison-avenue/