SL Green Realty has sold an 11% stake in One Vanderbilt, a premier office skyscraper in Midtown Manhattan, to Japanese firm Mori Building Co. The deal values the trophy property at an impressive $4.7 billion.

SL Green sold a stake in One Vanderbilt to Mori Building Company in a deal valuing the Midtown Manhattan tower at $4.7 billion.

SL Green sold an 11% stake in 1 Vanderbilt Ave. to Japan’s Mori Building Co., a transaction that values the 73-story tower at $4.7 billion. The widely anticipated sale reduces SL Green’s ownership in the building to 60% but enables the developer to raise about $200 million in cash to pay down debt.