"SL Green Realty () has agreed to purchase a Midtown Manhattan office building near Park Avenue from Blackstone () for $730M, as part of its bet that New York City will continue to strengthen as the top-performing office market in the U.S., the Wall Street Journal's Peter Grant reports. SL Green intends to announce the deal on Wednesday when it is anticipated to post its Q3 results as well, the author says, citing people familiar with the matter."
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SL Green Realty has agreed to purchase a Midtown Manhattan office building near Park Avenue from Blackstone for $730 million. The acquisition represents a bet that New York City will continue to strengthen as the top-performing office market in the United States. SL Green plans to announce the deal on Wednesday, coinciding with the company's scheduled third-quarter results release. People familiar with the matter provided details about the timing of the announcement. The transaction underscores investor confidence in New York office demand despite recent macroeconomic and leasing challenges across the sector.
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