SL Green announces $41 million sale of Greenwich office building

SL Green Realty Corp., New York City’s largest commercial property owner, is selling the 121,500-square-foot office property at 500 West Putnam Ave. in Greenwich for a gross sale price of $41 million, or $337 per square foot. The transaction is expected to close in the second quarter of 2016.

“This transaction is a continuation of our plan to strategically monetize assets that are not core to SL Green and generate incremental equity proceeds that can be applied to the company’s balance sheet,” said SL Green Co-Chief Investment Officer Isaac Zion.

As of March 31, SL Green held interests in 121 Manhattan buildings totaling 47.7 million square feet, as well as in 31 suburban buildings totaling 4.9 million square feet in Connecticut, Westchester County, Brooklyn, Long Island and New Jersey.