News
New York Capital Markets

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

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Empire State Building Observation Deck Hemorrhaging Visitors, Value

JLL Nearly Doubles Profits, Fueled By Leasing Rebound

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

Dewberry's Midtown Eyesore Quietly Resolves $75M Mortgage

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project