SL Green Realty Sells its 25% Stake in Tower 46 Commercial Condo Units

Brookfield Asset Management has entered into contract to acquire SL Green Realty’s 25% stake in the Tower 46 commercial condominium units at 55 West 46th Street. Acquired by SL Green in 2014, the package includes office units spread across floors 2, 22-34, a retail store fronting 46th Street, and the building’s parking garage and fitness center. The pending sale attracted a gross valuation of $275 million, or $793 per square foot; and is expected to close during the first period of 2021.