SL Green's Grand Central Square Continues to Attract Financial Services Leaders
July 25th, 2007 at 9:53 AM
Leading Private Equity Firm Takes Full Floor
New York, NY – July 25, 2007 – SL Green Realty Corp. (NYSE: SLG) today announced that it has signed a new five-year lease for 11,375 square feet with leading private equity firm, Tailwind Management, LP at Grand Central Square’s 485 Lexington Avenue.
“This newest lease underscores the appeal of 485 Lexington Avenue, based upon the proximity to Grand Central Terminal and our extensive redevelopment program,” commented Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green. “With a tenant roster that includes Citigroup, one of the nation’s leading financial institutions and St. Paul Travelers, international provider of property casualty insurance and surety products, Tailwind will headquarter with some of the most prominent financial services firms in the world.”
485 Lexington Avenue is a 32-story, 926,122 square foot office tower that stands adjacent to Grand Central Terminal on Lexington Avenue between 46th and 47th Streets. SL Green recently completed an extensive capital program that included replacement of 4,000 windows, upgrading of electric and HVAC capacities, new lobby and new storefronts together with an extensive re-branding program.
Noel M. Flagg of Newmark Knight Frank represented the tenant and Paul Glickman, Alexander Chudnoff, Mitti Liebersohn, Tara Stacom, Diana Biasotti and Steven Bauer of Cushman Wakefield, Inc represented the landlord in this transaction.
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.