Leasing Velocity Accelerates at SL Green’s 16 Court Street
July 8th, 2008 at 2:51 PM
Brooklyn’s Tallest Building Attracts Wide Diversity of Tenants
New York, NY – July 8, 2008 – Three new New York City-based tenants have expanded their businesses by leasing office space totaling 6,553 square feet at SL Green Realty Corp’s 16 Court Street, Brooklyn’s tallest commercial office building.
Naxos, a classical music record company signed a 1,000-square-foot lease for three years on the 12th floor. Hudson Valley Bank, private banking for attorneys, signed a 10-year deal for 2,397 square feet on the 19th floor. Lastly, Conservation Services Group, energy conservation consultants, committed to 3,156 square feet on the 18th floor for a period of three years.
“Downtown Brooklyn is becoming a magnet for companies desiring the proximity to Manhattan at more cost effective rental rates,” said Mr. Durels, SL Green’s Executive Vice President and Director of Leasing. “16 Court Street is an iconic property, towering 400 feet above the borough. Now that our $16 million capital program is solidly underway, we’re beginning to attract a wide diversity of companies who want to be part of the Brooklyn business boom, occupying Class A space with brand new elevators and a renovated lobby among other major upgrades.”
Gary Kamenetsky and Stewart Tudor of CBRE together with Chris Havens of CRES acted on behalf of SL Green as its exclusive leasing agent for 16 Court Street. Richard Leroy and Brian Soss of Delphi Commercial represented Hudson Valley Bank and David Kahane of DAK Realty represented Conservation Services Group.
Currently, 69,000 square feet of space is available in the 284,000-square-foot property.
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 March 31, 2008, the Company owned 31 New York City office properties totaling approximately 24,389,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, nine retail properties encompassing approximately 400,212 square feet, one development property encompassing approximately 85,000 square feet and two land interests, along with ownership interests in 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, 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.