TIAA-CREF—the professors’ insurance company—has provided $145 million in loans for the Graybar Building, SL Green’s midtown trophy at 420 Lexington Avenue, atop Grand Central Station. It refinanced $100 million in loans and provided an additional $45 million, producing approximately $23 million in net cash proceeds.
SL Green acquired a leasehold for the 31-story, 1.5-million-square-foot, Read More
Thirty-seven dollars will buy you 24 grasshopper cupcakes from Crumbs Bake Shop, or it will buy you one square foot of office space for a year in a nice building on Third Avenue in midtown Manhattan.
Thirty-seven dollars a foot. That is how much, on average, Guidepoint Global, an independent research company, will Read More
The $157 million sale of 470 Park Avenue South has popped up in public records, with the ever-active SL Green shedding yet another Class B property from its portfolio. The buyer, records show, is the insurance giant TIAA-CREF, which seems to have been a relatively inactive trader in the Manhattan real estate scene. Read More