SL Green Realty Corp. has entered into a definitive agreement to sell 110 Greene St. in SoHo to Natora Group in a transaction valued at $226 million. Eastdil Secured’s Gary Phillips, Will Silverman and Carly Shoulberg advised SL Green on the disposition of the mixed-use property.
Harrison Sitomer, president and CIO of SL Green, noted that the company implemented a leasing strategy at 110 Greene that brought the building to full occupancy at what he described as market-leading rents. He added that the transaction underscores the depth of interest from both domestic and international capital for assets across multiple property types.
The property at 110 Greene St. is situated between Prince and Spring streets in SoHo. It is a 13-story, 223,000-square-foot Class A office building featuring four exposures and street frontages on both Greene and Mercer streets. The building includes a retail component that houses Balenciaga’s New York flagship store, adding a high-profile luxury brand to the rent roll.
According to SL Green, the sale is expected to close in the fourth quarter. Upon completion, the transaction is anticipated to generate approximately $216 million in net cash proceeds. The company plans to use those proceeds to repay unsecured corporate debt, aligning the sale with balance sheet and capital allocation objectives.
The combination of full occupancy, Class A office space and a flagship luxury retail tenant positions 110 Greene St. as a notable asset in the SoHo submarket. At the same time, the use of sale proceeds for debt reduction highlights how owners are managing leverage and liquidity through targeted investment sales. The involvement of Eastdil Secured on the advisory side further reflects the role of institutional brokerage platforms in arranging and executing large-scale asset dispositions.
While the sale has not yet closed, the agreement between SL Green and Natora Group marks a significant office and retail transaction in SoHo, illustrating how stabilized assets with strong leasing performance can attract buyer interest and support corporate balance sheet strategies.
