SL Green Sells 470 Park Avenue South for $157 M.

SL Green announced this morning that it has entered into an agreement to sell 470 Park Avenue South for $157 million, or about $604 per square foot. The firm did not name the buyer, calling it in a release “an undisclosed institutional owner of real estate.”

SL Green, the city’s largest office landlord, acquired the 260,000-square-foot office building at 31st Street in 1997. It’s 96 percent leased.

CB Richard Ellis represented SL Green on the deal.

The Observer’s John Koblin will have more on SL Green’s third-quarter maneuverings and earnings in Wednesday’s print edition.