SL Green Bets on Manhattan Offices in First Purchase Since 2018

SL Green Realty Corp. agreed to buy a tower on Manhattan’s Park Avenue in its first office acquisition since 2018.

The real estate investment trust signed a contract to purchase 450 Park Ave. for $445 million from Toronto-based Oxford Properties, according to a statement Wednesday. The the 33-story building, at the corner of 57th Street in Midtown, has 337,000 square feet (31,300 square meters) of office and retail space. Tenants include Oxford, Banco Bradesco and BDT Capital Partners. British carmaker Aston Martin plans to open its first-ever Manhattan showroom at the property.

450 Park Ave.

Photographer: Jin Lee/Bloomberg

“As the most recognizable thoroughfare ...