SL Green Sells Chelsea Office Building for $95M

Less than one year after acquiring 707 Eleventh Avenue for $90 million, the 160,000-square-foot loft-style property will be changing hands again. According to the press release by SL Green Realty, the $95 million, or $594 per square foot sale to an undisclosed buyer is expected to close in the 1st quarter of 2022. Proceeds from the sale are expected to be used by the REIT for repayment of corporate debt.