SL Green Leases Additional 48,896 SF to NYU Hospitals Center at 673 First Avenue for State of the Art Outpatient Surgical Center
July 24th, 2007 at 10:39 AM
New York, NY – July 24, 2007 – SL Green Realty Corp. (NYSE: SLG) today announced that NYU Hospitals Center has signed a 20-year lease for an additional 48,896 square feet at 673 First Avenue. The new space will be developed into a full service, outpatient surgical center with dedicated street level entrance.
One of the nation’s premier centers of excellence in health care, scientific research, and medical education, NYU Hospitals Center now occupies 114,616 square feet at 673 First Avenue. NYU Hospital together with NY Presbyterian Hospital occupies almost 80 percent building cementing the property’s reputation as a center for New York’s medical community.
Commenting on the agreement, Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, said, “We’re pleased to welcome NYU Hospital’s new use to the building. In this case, although 673 First Avenue was fully occupied, we were able to engineer a creative and workable solution to NYU Hospital’s expanding needs by combining portions of the basement and ground floors previously leased at below market rent by a deli operator and parking garage to create a two-level outpatient surgical facility.”
Located on the northwest corner of 38th Street and First Avenue, 673 First Avenue is a 12-story building containing 425,000 rentable square feet.
Howard J. Tenenbaum and Gary M. Rosen of SL Green represented the landlord in the new agreement.
About SL Green Realty Corp.
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. The Company is the only publicly held REIT that specializes 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.
Tags: Steven M. Durels, 673 First Avenue