Coty has leased 10,000 square feet and 100 percent of the building’s
substantial LED signage
NEW YORK--(BUSINESS WIRE)--May 4, 2018--
SL Green Realty Corp. (NYSE: SLG), New York city’s largest office
landlord, today announced that Coty Inc., one of the world’s preeminent
beauty conglomerates, has signed a 10-year, 10,040-square-foot lease at
719 Seventh Avenue, now known as 30 Times Square, the retail flagship
development that SL Green completed in 2017. Coty is expected to take
possession of the property in July 2018.
30 Times Square is a five-story standalone retail property in the heart
of Times Square offering 105 feet of wraparound frontage and 5,800
surface square-feet of state-of-the-art LED displays, allowing Coty to
publish brand content across the most highly-trafficked pedestrian
corridor in the world.
Brett Herschenfeld, Managing Director at SL Green, commented, “As
the retail world evolves, Times Square has transformed, delivering
state-of-the-art customer experiences, high sales volumes, social media
engagement, and global marketability, all of which are highly desirable
in the current retail landscape. The Times Square submarket continues to
perform extremely well, and we look forward to welcoming
globally-renowned Coty to the SL Green portfolio and to Times Square.”
RKF Vice Chairman Ariel Schuster, Managing Director Ross Berkowitz, and
Associate Jason Wecker represented SL Green and JLL Vice Chairman
Michael Hirschfeld represented Coty on the transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
office landlord, is a fully integrated real estate investment trust that
is focused primarily on acquiring, managing and maximizing value of
Manhattan commercial properties. As of March 31, 2018, SL Green held
interests in 118 Manhattan buildings totaling 49.9 million square feet.
This included ownership interests in 28.7 million square feet of
Manhattan buildings and debt and preferred equity investments secured by
21.2 million square feet of buildings. In addition, SL Green held
ownership interests in 25 suburban buildings totaling 3.7 million square
feet in Brooklyn, Long Island, Westchester County, and Connecticut.
SLG – LEAS
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Source: SL Green Realty Corp.
SL Green Realty Corp.