SL Green Completes $730 Million Acquisition of Park Avenue Tower

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Jan 15 2026

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SL Green Realty announced that it has closed on the previously announced acquisition of Park Avenue Tower, located at 65 East 55th Street, for $730.0 million. The acquisition was financed with a new, five-year, fixed rate $480.0 million mortgage that was executed in the CMBS market by Wells Fargo, with participation from JP Morgan and Bank of America. The mortgage carries a stated coupon of 5.30%, which SL Green has hedged to an effective rate of 5.25%. "Closing on Park Avenue Tower with best-in-class financing fortifies our substantial presence on Park Avenue, the strongest office submarket in the country," said Harrison Sitomer, Chief Investment Officer at SL Green. "With this acquisition, the new financing, and the recent sale of a joint venture interest in 100 Park Avenue, we are well under way on the execution of our 2026 capital markets strategy."

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SLG

$44.54+Infinity%1D

Analyst Views on SLG

Wall Street analysts forecast SLG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SLG is 54.40 USD with a low forecast of 42.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

15 Analyst Rating

5 Buy

9 Hold

1 Sell

Moderate Buy

Current: 43.560

Low

42.00

Averages

54.40

High

66.00

Current: 43.560

Low

42.00

Averages

54.40

High

66.00

Deutsche Bank

Hold

downgrade

$46 -> $45

2026-01-06

Reason

Deutsche Bank

Price Target

$46 -> $45

AI Analysis

2026-01-06

downgrade

Hold

Reason

Deutsche Bank lowered the firm's price target on SL Green Realty to $45 from $46 and keeps a Hold rating on the shares. The analyst has a neutral view on the office real estate investment trusts heading into 2026.

Piper Sandler

Overweight

downgrade

$62 -> $60

2026-01-05

Reason

Piper Sandler

Price Target

$62 -> $60

2026-01-05

downgrade

Overweight

Reason

Piper Sandler lowered the firm's price target on SL Green Realty to $60 from $62 and keeps an Overweight rating on the shares. The firm says, "out with the old estimates and in with the new," as it undertakes its customary post-quarter update, largely reflecting company announcements and further refinement of Q3 2025 models.

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About SLG

SL Green Realty Corp. is a fully integrated real estate investment trust. The Company is engaged in the ownership, management, operation, acquisition, development, redevelopment, and repositioning of commercial real estate properties, principally office properties, located in the New York metropolitan area, principally Manhattan. Its segments include real estate, debt and preferred equity investments, and SUMMIT. Its primary business objective is to maximize the total return to stockholders, through dividends, earnings, and asset value appreciation. The Company holds interests in 54 buildings totaling 30.6 million square feet. This included ownership interests in 27.0 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. Its properties include 1185 Avenue of the Americas, 810 Seventh Avenue, 711 Third Avenue, and 555 West 57th Street, 1350 Avenue of the Americas, and 10 East 53rd Street.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.