SL Green Realty Corp Sells 110 Greene Street to Natora Group for $226 Million

SL Green Realty Corp (NYSE: SLG), Manhattan's largest office landlord, has agreed to sell 110 Greene Street in SoHo to Natora Group for $226.0 million, the company announced Sept. 9, 2026. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, and is projected to generate approximately $216.0 million in net cash proceeds that will be used to repay unsecured corporate debt.

Property Overview: 110 Greene Street in SoHo

Known as The Soho Building, 110 Greene Street is a 13-story, 223,000-square-foot Class A office building situated in the heart of SoHo between Prince and Spring Streets. The property features four exposures with frontages on both Greene and Mercer Streets and offers tenants access to 11 subway lines as well as SoHo's retail, restaurant, and entertainment options. The building carries LEED Gold certification and includes amenities such as a rooftop deck, café, and conference facilities.

The structure has roots dating to the turn of the twentieth century — tax records list a year built of 1910, while building specifications reference 110 Greene's completion in 1920 and an adjoining component at 125 Mercer Street completed in 1908. The property sits on tax parcel Block 499, Lot 0007 in Manhattan's cast-iron district.

Balenciaga's New York flagship store anchors the building's retail component. Upper-floor boutique office space has been marketed to creative, fashion, and technology tenants at asking rents around $105 per square foot per year on a modified gross basis. At the time of the announced sale, SL Green had brought the building to full occupancy. At the $226 million sale price and 223,000 square feet, the transaction implies a price of approximately $1,014 per square foot.

Deal Terms and Use of Proceeds

SL Green will receive approximately $216.0 million in net cash proceeds from the sale, which the company intends to apply toward repayment of unsecured corporate debt. The deal is structured as a straightforward disposition, with closing anticipated in the fourth quarter of 2026.

"Our team executed a successful leasing strategy at 110 Greene, bringing the building to full occupancy at market-leading rents," said Harrison Sitomer, President and Chief Investment Officer of SL Green. "This transaction further signifies the depth of domestic and international buyers in the market across varying property types."

Gary Phillips, Will Silverman, and Carly Shoulberg of Eastdil Secured advised SL Green on the transaction.

SL Green's Portfolio and Balance Sheet Context

As of June 30, 2026, SL Green held interests in 54 buildings totaling 30.6 million square feet, which included ownership interests in 29.2 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments. The company also managed four buildings totaling 0.9 million square feet owned by third parties.

The sale of 110 Greene Street represents a capital-rotation move by SL Green, converting a fully leased SoHo office asset into liquidity directed at reducing corporate leverage. The transaction also highlights continued buyer appetite for well-leased, boutique office properties in prime Manhattan submarkets, with Natora Group acquiring a fully occupied building commanding triple-digit per-square-foot rents.

About the Parties

SL Green Realty Corp is a fully integrated real estate investment trust focused primarily on acquiring, managing, and maximizing the value of Manhattan commercial properties. Eastdil Secured served as the investment sales broker representing the seller. Natora Group is the buyer in the transaction.

Sources: SL Green Realty Corp via GlobeNewswire, Sept. 9, 2026