SL Green plans to rejuvenate $105.6 million Madison Avenue building

NEW YORK – SL Green Realty Corp., a self-managed REIT, has acquired 317 Madison Avenue from New York-based Richfield Investment Co for $105.6 million. The 22-story Madison Avenue building is located a half block from Grand Central Station. New York-based SL Green plans to upgrade the property and re-lease the space upon expiration of leases. The current rent is less than $30 per sq. ft.

Cushman & Wakefield Inc. and Williamson, Picket, Gross Inc. were exclusive advisors in the transaction.

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