SL Green to acquire 500 Park Avenue for $130m.

SL Green, an office landlord, agreed to acquire 500 Park Avenue, an office and residential condominium building, for $130m. “500 Park Avenue is an extraordinary addition to our Park Avenue portfolio and a rare opportunity to own an iconic asset that hasn’t traded in more than 40 years. Park Avenue is the best performing office market in New York City with historic low vacancy and 500 Park Avenue will continue to benefit from opportunities in this fortress corridor that attracts top tier tenants and triple-digit rents,” Harrison Sitomer, SL Green Chief Investment Officer.