Home / Business and Economy / SL Green, Mori Forge NYC Office Tower Venture
SL Green, Mori Forge NYC Office Tower Venture
28 May
Summary
- SL Green is partnering with Mori Building for a new office tower.
- A 49% stake sold for $175 million valuation.
- Two buildings will be demolished for the project site.
SL Green Realty Corp. has announced a significant partnership with Japanese developer Mori Building Co. to bring a new office tower to the city. This collaboration is set to reshape a key area with new construction.
The venture involves SL Green selling a 49% stake to Mori. This transaction occurred at a gross valuation of $175 million. Earlier, SL Green had acquired two adjoining buildings at the development site for $160 million, which are slated for demolition.
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