SL Green Realty Corp. announced it was the successful bidder for the leasehold interest at 2 Herald Square, which was in foreclosure.
The Company has also reached an agreement to joint venture the asset with an Israeli-based institutional investor, subsequent to closing on the acquisition.
Located on a prime corner of Herald Square (the intersection of Sixth Avenue, Broadway, and 34th Street), 2 Herald is a 369,000 square foot office and retail asset in one of Manhattan’s busiest neighborhoods. Foot traffic along the 34th Street corridor, driven from Penn Station and Macy’s Department store, exceeds 100 million people per year. Notable tenants in the building include WeWork, which is primarily occupied by Amazon, Victoria’s Secret, and Mercy College.