P. Schoenfeld Asset Management Expands Offices at SL Green’s 1350 Avenue of the Americas
July 25th, 2007 at 9:49 AM
Building is Repositioned to Attract Financial Services Industry
New York, NY – July 25, 2007 – SL Green Realty Corp. (NYSE: SLG) today announced that P. Schoenfeld Asset Management, LLC, a London and New York-registered investment advisor with $3.5 billion in assets under management, has expanded its NY headquarters at 1350 Avenue of the Americas by 7,571 square feet. With the addition of this new office space, P. Schoenfeld Asset Management presently occupies over 20,000 square feet in the building through 2016.
Situated in the highly desirable Plaza area of midtown Manhattan on the Avenue of the Americas between 54th and 55th Streets – the top of New York’s ‘Corporate Row’ corridor, the 35-story, 547,000 square foot, Class A, premier office tower features panoramic views over Central Park. Prominent building tenants include Artisan Partners Limited Partnership, a Milwaukee-based investment management firm with over $47 billion in assets under management, Concordia Advisors, a London based hedge fund with over $2 billion in assets under management and Highbridge Capital Management, LLC, a multi-strategy global hedge fund with over $6 billion in current assets under management.
“Until very recently, 1350 Avenue of the Americas was New York’s headquarters to leading menswear designers,” commented Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green. “However, following our recent addition of the property as part of the Reckson acquisition, we set out to reposition the building as a Class A property catering to financial services companies. This effort includes a capital improvement program with new lobby, corridors, bathrooms and retail tenant upgrades.”
Alexander Chudnoff of Cushman & Wakefield, Inc. represented the tenant and Christopher Gulden of SL Green represented the landlord in this transaction.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages a portfolio of Manhattan office properties. The Company is the only publicly held REIT that specializes exclusively in this niche. As of June 30, 2007, the Company owned 32 New York City office properties totaling approximately 22.5 million square feet, making it New York’s largest office landlord. In addition, SL Green holds investment interests in Manhattan retail properties totaling approximately 284,000 square feet at nine properties, along with ownership of 33 suburban assets totaling 7.0 million square feet in Long Island, Westchester County, Connecticut and New Jersey.
To be added to the Company’s distribution list or to obtain the latest news releases and other Company information, please visit our website at www.slgreen.com or contact Investor Relations at 212-216-1601.