SL Green Realty sells 11% interest of One Vanderbilt Ave.

Manhattan, NY SL Green Realty Corp. closed on the sale of an 11% interest in One Vanderbilt Ave. to Mori Building Co., Ltd., Japan’s leading urban landscape developer. The investment was completed at a gross valuation of $4.7 billion for the property. After completion of the transaction, SLG maintains a 60% stake in One Vanderbilt Ave.

“One Vanderbilt is a globally-renowned and architecturally celebrated modern development, which has continued to demonstrate that well-located, highly amenitized and sustainable buildings will attract premier tenants and prestigious investors,” said Marc Holliday, chairman and CEO of SL Green Realty Corp. “We are honored to welcome Mori Building Co., Ltd. into the ownership venture of One Vanderbilt Avenue.”

“We are excited about joining the ownership venture of One Vanderbilt Avenue, a modern landmark in Manhattan, and the relationship with SL Green who have long contributed to making NYC an attractive city,” said Shingo Tsuji, president and CEO of Mori Building Co., Ltd.

Standing 1,401 ft. tall and defining the Midtown skyline, award-winning and internationally recognized One Vanderbilt is the new headquarters for many of the world’s leading finance, technology, law and real estate firms. The 1.7 million s/f skyscraper is 100% leased and offers a combination of amenities, office design, technology, sustainability and healthy workplace environment together with direct connection to Grand Central Terminal. One Vanderbilt is home to the immersive observation experience, SUMMIT One Vanderbilt, and two Michelin-starred restaurants from Daniel Boulud.