Under a new agreement with the Chinese conglomerate HNA Group, SL Green Realty will raise its total stake at 245 Park Ave. to $148.2 million. HNA paid $2.21 billion in 2017 and SL Green held a junior piece of its $1.8 billion in financing.
SL Green will also now formally serve as property manager and oversee all leasing and operations. Cushman & Wakefield currently handles office leasing and Mogull Realty the retail.
Broker Kim Mogull of Mogull Realty said leases are now out with restaurants, including a prominent white-tablecloth operator for a spot on Park Avenue.
Benjamin Lambert, Evan Layne and David Lazarus of Eastdil Secured repped HNA in the financial transactions.
The 1.78-million-square-foot tower sits on the entire block bounded by East 46th and 47th streets and Lexington Avenue and is opposite the JPMorgan Chase headquarters.
