The Krauter Group Signs 17,752-sq-ft Lease on Two Floors at 1350 Avenue of the Americas
October 19th, 2009 at 4:12 PM
Significant Expansion for Commercial Insurance Company
at SL Green-Owned Building
New York, NY - October 13, 2009 - SL Green Realty Corp. (NYSE: SLG) today announced that The Krauter Group LLC, a leading full-service commercial insurance broker, has committed to a 13-year, 17,752-square-foot lease covering the entire 18th and part of the 19th floors at 1350 Avenue of the Americas, the 35-story, 589,560-square-foot boutique office building owned by SL Green in Manhattan's fashionable Plaza District.
"This deal had a lot of moving parts," said Steve Durels, SL Green Executive Vice President, Director of Leasing and Real Property. "It involved a recapture of space that another tenant was attempting to sublease on the 18th floor, then combining it with vacant space on the 19th and delivering a turn-key build-out."
1350 Avenue of the Americas, nominated by BOMA in 2009/10 as Operating Office Building of the Year, features a new lobby and entrance, upgraded corridors, restrooms, elevators and mechanical systems. Other tenants in the building include Highbridge Capital Management, Garrison Investments, Rothstein, Kass, & Co. and P. Schoenfeld Asset Management.
Newmark Knight Frank's Brian Waterman and Lance Korman acted on behalf of The Krauter Group in the transaction, while Howard J. Tenenbaum and Gary M. Rosen represented SL Green.
Noah Shapiro Esq. of Paul Hastings Janofsy & Walker represented the landlord and Richard Berney Esq. of Cozen O'Connor represented the tenant.
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.