**SL Green Goes Under Contract for Prime Midtown East Development Site**
SL Green Realty Corp. has announced it is under contract to acquire two adjoining properties in Midtown East—346 Madison Avenue, formerly the Brooks Brothers flagship, and the adjacent site at 11 East 44th Street—for a total of $160 million. The acquisition is scheduled to close in the fourth quarter of 2025.
This strategic move provides SL Green with the opportunity to develop a new Class A office building on one of the most prominent development sites in Manhattan. Together, the two properties offer approximately 800,000 rentable square feet.
“These assets are in an exceptional location just steps from One Vanderbilt,” said Harrison Sitomer, Chief Investment Officer at SL Green. “As we continue to prioritize well-located opportunities in our core sub-markets, these properties provide us the opportunity to pursue a world-class, ground-up new office development in the heart of the strongest office market in the country.”
Drew Isaacson and David Giancola of JLL advised on the transaction.
*Photo courtesy of JLL.*
