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SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. SL Green Realty Corp. is the only publicly held REIT that specializes in this niche. The Company owns more than 30 New York City office properties totaling over 22 million square feet, making it New York’s largest office landlord.
In addition, SL Green holds investment interests, among other things, in retail properties encompassing approximately 400,000 square feet, development property (one) encompassing approximately 85,000 square feet and land interests (two), along with ownership of over 30 suburban assets totaling more than 7.5 million square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
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SL Green Realty Corp., or the Company, is New York City's largest commercial office landlord and is the only fully integrated, self-managed, self-administered Real Estate Investment Trust, or REIT, primarily focused on owning and operating office buildings in Manhattan.
The Company was formed on August 20, 1997 to continue the commercial real estate business of S.L. Green Properties Inc., a company that was founded in 1980 by Stephen L. Green, our current Chairman. For more than 25 years SL Green has been engaged in the business of owning, managing, leasing, acquiring and repositioning office properties in Manhattan. The Company's investment focus is to create value through strategically acquiring, redeveloping and repositioning office properties primarily located in Manhattan, and re-leasing and managing these properties for maximum cash flow.
In 2007, SL Green acquired Reckson Associates Realty Corp. and added over 9 million square feet to its portfolio. Included in this total is over 3 million square feet of Class A office space located in Westchester, New York and Stamford, Connecticut. These suburban portfolios serve as natural extensions of SL Green’s core ownership in the Grand Central submarket of Midtown Manhattan. The Company has since made selective additions to the holdings in these areas.
Looking forward, SL Green will continue its opportunistic investment philosophy through three established business lines: investment in long-term core properties, investment in opportunistic assets, and structured finance investments. Structured finance investments include SL Green’s interest in Gramercy Capital Corp., or Gramercy, (NYSE: GKK) since 2004. SL Green owns approximately 22% of Gramercy. This three-legged investment strategy allows SL Green to balance the components of its portfolio to take advantage of each stage in the business cycle.
Manhattan
- Number of Buildings:
- 40
- Total Sq. Ft. (Mil):
- 25,167
Boroughs & Suburbs
- Number of buildings:
- 36
- Total Sq. Ft. (Mil):
- 7,867