SL Green Sells Half Of Stake In $618M 5th Ave. Retail Condo

Law360, New York (July 25, 2012, 2:11 PM EDT) -- New York City landlord SL Green Realty Corp. has sold 50 percent of its interest in four retail floors of a tower at 717 Fifth Avenue to its joint venture partner Jeff Sutton, and together they have taken out $590 million in new debt on the floors, which the companies valued at $618 million for the stake sale, SL Green announced Wednesday.

SL Green, a real estate investment trust that owns interests in 70 Manhattan properties, said it retained a 10.92 percent stake in its joint...
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