Sullivan & Cromwell is buying the rest of the office tower it currently occupies in New York City’s financial district in a $202 million deal, giving the firm full ownership.
Mack-Cali Realty Corp., an Edison, New Jersey-based real estate investment trust, is unloading its stake in 125 Broad Street in lower Manhattan as part of a $365.5 million divestiture. The pending sale, detailed in a Tuesday morning securities filing by Mack-Cali, will give Sullivan & Cromwell an additional 560,000 square feet of space over 16 floors in the skyscraper. The firm already occupies approximately 760,000 square feet across the top 20 floors.
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