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Acquisitions

Brookfield buys 315 West 33rd Street

Image of 315 West 33rd Street and views from the building (Credit: SL Green Realty)

Brookfield Premier Real Estate Partners has acquired 315 West 33rd Street and an adjacent undeveloped parcel of land from SL Green for $446.5 million. The mixed-use building (AKA “The Olivia”) spans 492,987 square feet, and contains 333 residential units, plus a large commercial component (270,132 SF) .

  • Worth Noting: Commercial tenants include: AMC Theater, Music Choice, and Landmark Education. The space is 100 percent occupied.
  • Heard on the Street: SL Green’s David Schonbraun said in a press release: “This sale is another example of SL Green’s commitment to strategically divest of non-core assets and accretively redeploy the capital into our ongoing share repurchase program.”
  • Flashback: SL Green paid $387 million for the asset in 2013. The property benefits from its close proximity to Penn Station and Madison Square Garden.

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