SL Green Pays $218M For Loan On NYC Office Building

Law360, New York (December 3, 2012, 7:10 PM EST) -- New York real estate investment trust SL Green Realty Corp. announced two local deals on Monday, acquiring a nonperforming mortgage loan secured by a Manhattan property for a reported $218 million and making its first residential investment in Brooklyn.

The firm said it had purchased the nonperforming loan backed by 315 Park Ave. S., a 20-story, 320,000-square-foot office building in Manhattan's Midtown South neighborhood. The building is primarily leased by banking giant Credit Suisse AG, SL Green said.

The New York property owner did not disclose...
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