SLG
SL Green Announces the Sale of 10 East 53rd Street
Article Summary
HOLD- SL Green Realty Corp. (NYSE: SLG) announced that it has sold 10 East 53rd Street for total consideration of $312.2 million to Meadow Partners, a vertically integrated real estate investment manager specializing in global middle-market transactions, generating net cash proceeds of approximately $100.0 million that will be used for corporate debt repayment.
- The 37-story, 390,000 square foot property is located in the heart of East Midtown between Fifth Avenue and Madison Avenue, currently 92% leased, with SL Green acquiring the property in 2012 and subsequently completing a comprehensive redevelopment and repositioning of the building.
- The transaction is a meaningful step forward in the execution of SL Green's $2.5 billion 2026 strategic disposition plan and further validates the value creation achieved through redevelopment and asset management initiatives, with SL Green Realty acquiring its partner's 45.0% interest in December 2024 at gross valuation of $236.0million resulting in the company owning 100% of the property prior to entering into this transaction.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 7.7% | 25% | 35.0 ptsBelow Screener (7.7%) - Weak growth |
| EPS Growth Next 5Y ? | 3.2% | 25% | 10.0 ptsVery Weak (3.2%) - Minimal expectations |
| Target Price Upside ? | 5.8% | 20% | 35.0 ptsBelow Screener (5.8%) - Target: $47.53 vs Current: $44.91 |
| Gross Margin % ? | 34.8% | 15% | 40.0 ptsModerate (34.8%) - Adequate margins |
| Drawdown from 52-Wk High ? | -32.9% | 15% | 80.0 ptsSolid Dip (-32.9%) - Good entry zone |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About SLG
- SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, debt investing, financing, development, redevelopment, construction and leasing.
- As of December 31, 2025, the Company held interests in 56 buildings totaling 31.4 million square feet.
- This included ownership interests in 28.0 million square feet in Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments, excluding fund investments.
- SL Green Realty Corp. was incorporated in 1980 and is based in New York, United States.