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SL GREEN REALTY CORP. SELLS 440 NINTH AVENUE TO JOINT VENTURE

NEW YORK CITY — SL Green Realty Corp. has agreed to sell 440 Ninth Avenue, a 339,000-square-foot office building in Manhattan, New York City, to a joint venture between Paramount Group and Sherwood Equities for $160 million. Situated on Ninth Avenue between 34th and 35th streets, B Photo, Duane Reade and eEmerge are the three largest tenants in the 18-story office building. The building was 100 percent occupied at the time of sale. Cushman & Wakefield represented the seller in the transaction. The transaction is slated to close first quarter 2008.

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