REBusinessOnline

SL Green Agrees to Sell Manhattan News Building for $815M

news-building-ny

The News Building was originally the headquarters of "The New York Daily News."

NEW YORK CITY — SL Green has agreed to sell 220 East 42nd Street, also known as The News Building, in Manhattan for $815 million. The 37-story building, originally the headquarters for The New York Daily News, was 97 percent occupied at the time of sale by tenants including the Visiting Nurse Service of New York, local television station WPIX and the United Nations. Adam Spies and Doug Harmon of Cushman & Wakefield facilitated the transaction along with Robert Verrone of Iron Hound Management. The deal is expected to close in the first quarter of 2020. Commercial Observer reported that the buyer was Jacob Chetrit of The Chetrit Organization. SL Green purchased the property in February 2003 for $265 million

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Watch On Demand:

Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties