SL Green Goes on Dealmaking Tear
SL Green's holiday season abounds with dealmaking. NYC’s largest commercial property owner announced Monday that Prudential has taken a 75 percent stake in Tower 46, the $295M Skidmore Owings & Merrill skyscraper, located at 55 W. 46th. It consists of 347k SF of office space and ground floor retail. The two already have a strong rapport, having teamed up on the office tower at 100 Park Ave., which they refinanced in March for $360 million.
SL Green also increased its stake in a 674k SF office condominium at 1745 Broadway, also known as Random House Tower. With a 56 percent stake in the property, SL Green is now the majority owner. It originally acquired a 32 percent stake in the building in 2007 and upped its stake with interests acquired from The Witkoff Group.