Citigroup has repurchased its Tribeca headquarters at 388-390 Greenwich Street for $1.76 billion. The firm sold the two buildings to SL Green and Ivanhoe Cambridge for $1.6 billion in 2007 with an option to repurchase them. The acquisition involves a nine-story, 760,000 sqf building at 390 Greenwich Street and the adjacent 39-story, 1.59-million sqf tower at 388 Greenwich Street. Both are fully-leased by Citigroup. SL Green bought out Ivanhoe Cambridge in 2014 for $783 million and will now receive all proceeds from the sale, which marks New York’s largest commercial real estate deal of 2016 to-date.
