SL Green Receives $510M Loan for Manhattan Office Building
NEW YORK CITY —SL Green has received a $510 million loan for the refinancing of an office building in Manhattan. A lending group led by Aareal Capital Corp., Citi and Credit Agricole provided the loan. Located at 220 E. 42nd St., the 37-story building is known as The News Building and originally served as the headquarters for The New York Daily News. Locally based investment firm SL Green purchased the property in February 2003 for $265 million. The building is currently 97 percent leased to tenant roster including the Visiting Nurse Service of New York, Omnicom Group, local television station WPIX and the United Nations.