SL Green Sells 440 Ninth Avenue for $160 M.

Tom Acitelli — Fri, 09 Nov 2007 19:54:40 -0400

A partnership of Paramount and Sherwood Equities has picked up a West Side building from SL Green for $160 million, a source familiar with the deal said.

The property, 440 Ninth Avenue, was sold as SL Green is trying to shed itself of some of its Class B portfolio, aspiring to gain a more polished image in the world of Manhattan real estate.

The investment sales pros at Cushman & Wakefield brokered the deal. Calls to the firm and to SL Green have not been returned.

The Observer reported in September that SL Green, the city's biggest office landlord, would be putting 440 Ninth up for sale, along with 470 Park Avenue South. The firm announced in late October that it had entered into an agreement to sell 470 Park Avenue South for $157 million.

The 18-story 440 Ninth Avenue, at 35^th Street, has more than 320,000 square feet of office space, according to PropertyShark.

Observer » SL Green Sells 440 Ninth Avenue for $160 M.

SL Green Sells 440 Ninth Avenue for $160 M.