Two Tenants Sign Leases Totaling 25,835 Square Feet at SL Green's 810 Seventh Avenue
July 1st, 2009 at 12:00 AM
Comverse Technology Expands to 17,320 Square Feet, More than Doubling in Size
Nigro Karlin Segal & Feldstein LLP Signs New Lease for 8,514 Square Feet
New York, NY July 1, 2009 -SL Green Realty Corp. (NYSE: SLG) today announced that Comverse Technology, Inc., an international telecommunications giant, and Nigro Karlin Segal & Feldstein, LLP, leading Los Angeles-based certified public accountants specializing in the entertainment industry, have signed leases which, combined, total 25,834 square feet at 810 Seventh Avenue, the 41-story, 694,000-square-foot tower located between West 53rd and 52nd Streets.
The property has recently completed an extensive $10 million redevelopment program, which included a complete re-design of the lobby, elevator cabs, common corridors and bathrooms. The design theme focuses on environmental sustainability with features that include the use of natural building materials, energy efficient lighting and sustainable wood products.
Comverse Technology signed a new ten-year lease covering 17,320 square feet for its worldwide headquarters covering the entire 32nd floor of the building. The company, which designs, develops, manufactures, markets and supports computer and telecommunications systems and software for over two billion subscribers in more than 130 countries, had occupied the entire 35th floor of the building since 2006.
Nigro Karlin Segal & Feldstein LLP signed a new five-year 8,514-square-foot lease to occupy a portion of the 17th floor.
"810 Seventh Avenue is the best value for tenants seeking first-class office space in the Plaza district. The building's convenient location, high profile architectural design, sweeping Central Park views and economical rents are a rare combination," said Steven Durels, SL Green Executive Vice President and Director of Leasing and Real Property. "We are delighted to accommodate Comverse's long-term expansion requirement, and welcome Nigro as a new tenant."
Paul Ippolito, Michael Ippolito, and Michael Morris of Newmark Knight Frank represented Comverse in the transaction. John B. Brod and Howard Hersh of PBS Realty Advisors LLC represented Nigro Karlin. SL Green was represented in both transactions by Newmark Knight Frank's David Falk, Peter Schminkin and Danny Levine, and by Larry Swiger and Christopher Gulden respectively in-house.
Attorneys were: Andrew Lampert, Esq. and Michael Federman, Esq. of Federman Steifman, LLP for Comverse, and Paul A. Gangsei, Esq. of Manatt, Phelps & Phillips, for Nigro Karlin. SL Green's Joan Thompson Esq. acted in-house for SL Green in both transactions.
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, 2009, the Company owned 29 New York City office properties totaling approximately 23,211,200 square feet, making it New York's largest office landlord. In addition, at March 31, 2009, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 33 suburban assets totaling 6,986,500 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 http://www.slgreen.com/ or contact Investor Relations at 212-216-1601.
Tags: 810 Seventh Avenue, Steven M. Durels, Christopher Gulden, Lawrence A. Swiger, Joan Thompson, Nigro Karlin