SL Green Realty's disposition strategy is now in full swing. New York City's largest office real estate investment trust announced Wednesday that it has sold 110 Greene Street — a 13-story, 223,000-square-foot Class A office building in Manhattan's SoHo neighborhood — to Natora Group for $226 million. The sale matters because it represents a concrete, completed transaction within a broader, publicly stated plan to sell up to $2.5 billion of residential and commercial real estate from the REIT's portfolio. It also provides a real-world price point for a Class A SoHo office asset at a time when office values and buyer appetite remain closely watched.
The material facts are straightforward but notable. SL Green acquired the property in 2015 for $255 million, meaning the $226 million sale price is below the prior purchase price. The building is currently home to a Balenciaga store on the ground floor, and SL Green's president and chief investment officer, Harrison Sitomer, said in a statement that SL Green brought the building "to full occupancy at market-leading rents." Eastdil Secured Savills' Gary Phillips, Will Silverman and Carly Shoulberg arranged the sale. The Real Deal first reported the news, according to the Commercial Observer account.
The evidence comes from a single full-text Commercial Observer article published September 9, 2026, by Brian Pascus. The report also notes that Commercial Observer reported last summer that SL Green CEO Marc Holliday aimed to sell 110 Greene Street and 690 Madison Avenue in Lenox Hill — an office owned together with Jeff Sutton's Wharton Properties — for a combined roughly $300 million. Separately, Commercial Observer had reported in mid-2020 that SL Green eyed selling 110 Green Street for between $250 million and $300 million. The final $226 million price therefore lands below the lower bound of that earlier reported range, though the dossier does not provide an explanation for the gap.
The transaction has sector-level implications. Sitomer said the sale "further signifies the depth of domestic and international buyers in the market across varying property types." That framing positions the deal as evidence of liquidity and demand, even as SL Green continues to reduce exposure. The sale also fits within a larger announced plan from late 2025 to sell up to $2.5 billion of assets, with at least nine buildings put on the market. Properties the office REIT aims to offload either entirely or partially include 1350 Sixth Avenue, a 600,000-square-foot office building in Midtown; 245 Park Avenue, a 1.7-million-square-foot office that opened in 1967; and 750 Third Avenue, a former office tower in Midtown that is being converted into a nearly 700-unit apartment complex.
Several limitations apply. The dossier is based on one source read in full, and it does not include Natora Group's own statement, financing terms, capitalization rate, or the building's current occupancy breakdown beyond the ground-floor retail tenant. It also does not explain why the sale price came in below the 2015 acquisition price or below the previously reported $250 million to $300 million range. What to watch next is whether the remaining planned dispositions close at prices that support or challenge the narrative of deep buyer demand, and whether SL Green provides additional detail on how proceeds from 110 Greene Street are being redeployed.