SL Green Realty Corp. has sold an 11% stake in One Vanderbilt Ave. to Japan-based Mori Building Co., Ltd., bringing the gross valuation of the Midtown Manhattan office tower to $4.7 billion. Despite this sale, SL Green will maintain a majority ownership with a 60% stake in One Vanderbilt.
According to Marc Holliday, Chairman and CEO of SL Green, One Vanderbilt is a highly sought-after and modern development that continues to attract top tenants and investors due its prime location, amenities, and sustainability features. He expressed excitement at welcoming Mori Building Co., Ltd into the ownership venture for this globally-renowned architectural gem.
Mori Building’s president and CEO Shingo Tsuji also shared his enthusiasm about joining the ownership venture for One Vanderbilt Ave., which he described as a modern landmark in Manhattan. He also praised SL Green for their contributions towards making New York City an attractive city.
Completed in 2020 with a height of 1,401 feet tall ,the skyscraper spans over 1.7 million square feet and is fully leased out.
