News Real Estate

SL Green Sells 590 Fifth Avenue

NEW YORK — SL Green Realty Corp. has sold an office building at 590 Fifth Avenue in Manhattan for a gross sale price of $103.0 million.

“Closing on the sale of 590 Fifth Avenue at a price of $1,000 per square foot demonstrates the continued demand for well-located New York City office and retail properties,” said Harrison Sitomer, Senior Vice President of SL Green. “This profitable transaction is the latest step in the successful execution of our 2021 business plan as we remain on track to meet or exceed our stated goals for the year.”

Located between 47th and 48th Street, 590 Fifth Avenue is a 19-story, 103,000-square-foot office building with prime retail space at the base. SL Green took ownership of the property in October 2020.

Albert Sultan and Morris Sabbagh of Kassin Sabbagh Realty represented the buyer in the transaction.