SL Green Realty Corp. Acquires Park Avenue Tower for $730 Million

Written by Emily J. Thompson, Senior Investment Analyst

SLG+2.25%

Source: Globenewswire

Updated: Jan 15 2026

0mins

Source: Globenewswire

Acquisition Completed: SL Green Realty Corp. has successfully closed the acquisition of Park Avenue Tower for $730 million, further solidifying its presence in the strongest office submarket in the U.S.
Financing Structure: The acquisition was financed through a $480 million five-year fixed-rate mortgage with a stated coupon of 5.30%, hedged to an effective rate of 5.25%, showcasing the company's strong capital market capabilities.
Asset Upgrades: Park Avenue Tower, a 36-story, 621,824 square foot Class A office building, has undergone modern enhancements that improve its infrastructure and interiors, making it attractive to financial institutions and hedge funds, thus boosting its market competitiveness.
Strategic Execution: This acquisition, combined with SL Green's recent sale of a joint venture interest in 100 Park Avenue, marks a significant step in executing its 2026 capital markets strategy, enhancing the company's market share in Manhattan.

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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.