SL Green Realty Enters Contract To Sell Fee Ownership Interest In 625 Madison Avenue For Gross Sale Price Of $632.5M, Or $1,123 Per Square Foot
Portfolio Pulse from Benzinga Newsdesk
SL Green Realty has entered into a contract to sell its fee ownership interest in 625 Madison Avenue for a gross sale price of $632.5 million, which equates to $1,123 per square foot.
December 04, 2023 | 1:09 pm
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SL Green Realty's sale of its fee ownership interest in 625 Madison Avenue for $632.5M may lead to a positive short term impact on its stock price.
The sale of a significant asset like 625 Madison Avenue at a high price per square foot indicates a successful capital realization for SL Green Realty. This could be viewed positively by investors as it may improve the company's liquidity and potentially be used for debt reduction, reinvestment, or shareholder returns. However, the impact on the stock will also depend on the market's perception of the sale price and the company's future investment plans.
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