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SL Green buys out prime lease at 650 Fifth Avenue

New York — SL Green Realty Corp. and partner Jeff Sutton have entered into an agreement to buy out the lease of retailers Juicy Couture at 650 Fifth Avenue. The transaction will enable the leasehold owners to combine Juicy Couture’s existing basement, grade-level and second floor retail space with additional vacant space on the third floor and accelerate the partnership’s ability to reposition the building’s premier retail corner location.

The move follows the SL Green/Sutton joint venture’s recent acquisition of a 49-year leasehold interest covering the entire retail portion of 650 Fifth Avenue.

 

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