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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.