{"id":251081,"date":"2026-06-01T17:25:21","date_gmt":"2026-06-01T17:25:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/251081\/"},"modified":"2026-06-01T17:25:21","modified_gmt":"2026-06-01T17:25:21","slug":"sl-green-to-sell-10-east-53rd-street-to-meadow-partners-for-312m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/251081\/","title":{"rendered":"SL Green to Sell 10 East 53rd Street to Meadow Partners for $312M \u2013 Commercial Observer"},"content":{"rendered":"

SL Green Realty<\/a> is selling 10 East 53rd Street to Jeffrey Kaplan\u2019s Meadow Partners<\/a> in an offload valued at $312.2 million.<\/p>\n

The deal between New York City\u2019s largest office landlord and the real estate private equity manager was announced Monday<\/a>. Newmark<\/a>\u2019s Adam Spies, Adam Doneger and Avery Silverstein advised both parties in the transaction. SL Green will continue to manage the property.<\/p>\n

SEE ALSO: Prominent Landlord Sandy Sigal On the Lasting Premium in Retail<\/a><\/p>\n

The sale, first reported by The Real Deal<\/a>, is expected to close in the third quarter of 2026. Newmark\u2019s Jordan Roeschlaub and Nick Scribani are handling the debt assignment for the acquisition financing, seeking a 50 percent loan-to-value ratio, Commercial Observer has learned.<\/p>\n

The Midtown East office tower, located on 53rd Street between Fifth and Madison avenues, was acquired by SL Green in 2012 for $252.5 million. SL Green took over its partner Canada Pension Plan Investment\u2019s stake two years later at a valuation of $236 million.\u00a0<\/p>\n

During its tenure at 10 East 53rd Street, SL Green oversaw a $170 million redevelopment to reposition the 390,000-square-foot building as a Class A asset. SL Green\u2019s net cash proceeds from the sale, approximately $100 million, will be used for corporate debt repayment, according to the announcement.\u00a0<\/p>\n

Harrison Sitomer, president and chief investment officer of SL Green, called the deal a \u201cmeaningful step forward\u201d in executing the company\u2019s $2.5 billion 2026 strategic disposition plan.<\/p>\n

\u201cFollowing our acquisition of the remaining ownership interest in the property in December 2024, we positioned the asset to capitalize on strong investor demand for high-quality, well-located Midtown assets, and we look forward to continuing to manage the property moving forward,\u201d Sitomer said in a statement.\u00a0<\/p>\n

The tower\u2019s 37 stories are currently 92 percent leased, according to the announcement, with major office tenants including brokerage Compass and Swarovski North America<\/a>. Equinox Fitness<\/a> and Metropolitan Bank number among its retail tenants.\u00a0<\/p>\n

Meadow Partners\u2019 $530 million flagship fund, raised in 2024<\/a>, has targeted New York and London real estate. In September 2025, the firm announced a $36 million preferred equity investment<\/a> in Edward J. Minskoff Equities\u2019 1166 Avenue of the Americas in Midtown, followed by a $62 million investment<\/a> in Minskoff and LaSalle Investment Management\u2019s 51 Astor Place earlier this year.\u00a0<\/p>\n

SL Green has stayed busy as well, announcing last week the sale of a 49 percent stake in 346 Madison Avenue<\/a> to Japanese developer Mori Building Company, with plans to jointly build a new office tower on the Midtown site.\u00a0<\/p>\n

Meadow Partners did not immediately respond to a request for comment.<\/p>\n

Emily Davis can be reached at edavis@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"SL Green Realty is selling 10 East 53rd Street to Jeffrey Kaplan\u2019s Meadow Partners in an offload valued…\n","protected":false},"author":2,"featured_media":251082,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[97944,10909,10910,28548,4461,2664,97945,22114,9,24,97946,63,134,136,135],"class_list":["post-251081","post","type-post","status-publish","format-standard","has-post-thumbnail","category-staten-island","tag-10-east-53rd-street","tag-adam-doneger","tag-adam-spies","tag-avery-silverstein","tag-harrison-sitomer","tag-investments-sales","tag-jeffrey-kaplan","tag-jordan-roeschlaub","tag-new-york","tag-new-york-city","tag-nick-scribani-channel","tag-nyc","tag-staten-island","tag-staten-island-headlines","tag-staten-island-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/251081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=251081"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/251081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/251082"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=251081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=251081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=251081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}