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1 Astor Place Sold For $483.5 Million

S.L. Green Acquires 1515 Broadway
By Sarah Martin
June 13, 2002 | 4:39 P.M.

S.L. Green Realty and SITQ Immobilier acquired 1515 Broadway, also known as 1 Astor Place, for $483.5 million. S.L. Green holds a 55% interest, while SITQ Immobilier takes the remaining 45% interest in the property. The 1.932-million-square-foot office building was acquired from 1515 Broadway Associates LP for $250 per square foot. The 54-story office building was built in 1972 and is known as the Equitable Building, built on the former site of the Astor Hotel. Viacom International Inc. is the largest tenant occupying 476,991-square-feet of space on several floors. The property was 98.2% leased at the time of sale. Lehman Brothers provided the financing for this transaction.

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