Deals
SL Green Buys Gramercy Investments for $390.8 Million
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SL Green Realty Corp., Manhattan’s largest office landlord, agreed to buy Gramercy Capital Corp. real estate investments for $390.8 million, including the right to a 100 percent leasehold on New York’s Lipstick Building.
The agreement includes the assumption of $265.6 million in debt for interests in land beneath the Lipstick Building at 885 Third Ave., as well as 2 Herald Square and 292 Madison Ave., SL Green said in a statement today. The company, based in New York, expects the deal to be completed within 90 days.