SL Green Sells Midtown Office at 10 East 53rd for $312.2M
SLG•SL Green Realty sold 10 East 53rd Street for $312.2 million to Meadow Partners, generating net proceeds of approximately $100 million. The 390,000-square-foot, 37-story Midtown property—92% leased—will close in Q3 2026 with proceeds earmarked for corporate debt repayment as part of SL Green’s $2.5 billion 2026 disposition plan.
1. Transaction Overview
In June 2026 SL Green entered a definitive agreement to sell 10 East 53rd Street to Meadow Partners for $312.2 million. The deal is set to close in the third quarter of 2026, subject to customary conditions, and will deliver net cash proceeds of about $100 million.
2. Property Details
The asset is a 37-story, 390,000-square-foot office tower in East Midtown between Fifth and Madison Avenues. Currently 92% leased, SL Green acquired full ownership interest in December 2024 and completed a comprehensive redevelopment and repositioning of the building.
3. Strategic Disposition Plan
This sale advances SL Green’s $2.5 billion strategic disposition plan for 2026 and underscores value creation from its redevelopment initiatives. Proceeds will be directed to corporate debt repayment, strengthening the REIT’s balance sheet.
