SL Green Realty Corp. has completed the acquisition of Park Avenue Tower for $730.0 million, with financing from a $480.0 million mortgage at a 5.30% coupon rate, hedged to 5.25%. The 36-story, 621,824 square foot Class A office building is located on Park Avenue and features modern upgrades and amenities. SL Green’s Chief Investment Officer, Harrison Sitomer, stated that the acquisition strengthens their presence in the prime office submarket. Recent enhancements to the building include a redesigned plaza, high-end office suites, and a renovated lobby. SL Green Realty Corp. is Manhattan’s largest office landlord, with interests in 53 buildings totaling 30.7 million square feet.

Read more at GlobeNewswire: SL Green Closes Acquisition of Park Avenue Tower