SL Green Buys Stake In AIG Office, Sells Citigroup Tower

Law360, New York (November 14, 2011, 8:50 PM EST) -- SL Green Realty Corp., New York’s largest owner of office properties, has bought a 49.9 percent stake in a lower Manhattan skyscraper from The Moinian Group and sold the Citigroup Building in Queens to an investor consortium for roughly $476 million, SL Green announced Monday.

SL Green formed a joint venture with developer Moinian to recapitalize 180 Maiden Lane, a 41-story tower in the financial district that is home to American International Group Inc. and Stroock & Stroock & Lavan LLP.

The recapitalization values the property...
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