Citi Buys Back Headquarters From SL Green For $2B

Citigroup is exercising its option to buy back its headquarters at 388-390 Greenwich St from SL Green Realty for $2B, the latest in a string of leasing deals recently announced by the REIT.

In 2006 Citi sold its 2.7M SF HQ to SL Green and Ivanhoé Cambridge for $1.6B, and renewed its lease in 2013, a deal that came with the buyback option, according to The Real Deal.

SL Green bought out Ivanhoé in 2014 for $783M to take full control of the property, which recently received a major makeover. [TRD]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

NYC Lawmakers Consider Mandating Lease Extensions For Retailers

NYC Pushes To Use Opportunity Zone 2.0 For Mamdani's Housing Goals

Defense Tech Firms Setting Up Shop In Trump Family's Palm Beach Orbit

DOJ Charges LA Nonprofit Workers With Misusing $8.7M Meant For Housing Aid

First Rate Hike Since 2023 Lands Atop 5% Treasury Yield, Ratcheting Up Capital Pressure

Google Delays Thompson Center Opening To 2028, Releases New Renderings

Stockdale Hires Fortress Exec To Launch Debt Business

Where Capital Meets Opportunity: Navigating The Next Wave Of CRE Financing At Bisnow’s Event On Sept. 30

Discussing Strategic Capital Stack Structuring At Bisnow's Sept. 30 National Finance Event

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

DivcoWest Sells Glendale Office Building For $70M

Bally's Lines Up $560M Loan For Bronx Casino: The N.Y. Deal Sheet