SL Green Buys Grand Central Tower, Office

In New York, NY, SL Green Realty Corp., New York City’s largest commercial office landlord, has purchased all of the interests in 51 E. 42nd Street, an 18-story Midtown Manhattan office building that faces Grand Central Terminal along Vanderbilt Avenue.With this transaction, SL Green now owns all of the buildings on the block bounded by Madison and Vanderbilt Avenues between East 42nd and East 43rd streets. The other buildings include 317 Madison Avenue purchased in 2001, and 331 Madison Avenue and 48 East 43rd Street which were purchased in 2007. The Company is the dominant office property owner in the Grand Central submarket.

The 18-story building, which measures approximately 142,000 sq ft, is 94% occupied.