SL Green Announces Acquisition of 102 Greene St, Further Expanding Soho Presence


SL Green Realty Corp. (NYSE: SLG), New York City’s largest commercial

property owner, today announced that is has acquired the retail property

located at 102 Greene Street for $32.25 million. The transaction marks

the continued growth of the Company’s prime retail property portfolio,

which already includes several other assets in Manhattan’s popular SoHo

retail district.

The 9,200-square-foot asset currently features the Galeria Melissa

footwear store, and also includes two residential units and 5,500 square

feet of development rights. The building is located on what is becoming

one of the top luxury boutique blocks of SoHo between Prince Street and

Spring Street, across the street from Tiffany and Co. and surrounded by

such tenants as Ralph Lauren, Apple, Etro, Fendi, Dior, Chloe, and Louis


The transaction announced today is the latest in a series of recent

acquisitions in SoHo by SL Green, establishing the Company’s strong

presence in the submarket. Area holdings already include interests in

121 Greene Street, 115 Spring Street, 131-137 Spring Street and 530-536

Broadway. SL Green’s growing SoHo portfolio complements its major retail

investment interests in other heavily-trafficked New York City

locations, including Midtown’s Fifth Avenue corridor, Madison Avenue and

Times Square.

SL Green Managing Director Brett Herschenfeld commented, “SoHo has

experienced a tremendous surge in upscale shopping, fueled by both

tourism and evolving demographics. We expect the current trends to

continue for the long-term, based on the strong economic outlook and

compelling neighborhood features. SL Green will now reposition the

property, consistent with our other investments in the area.”

Jeffrey Fishman and Ross Berkowitz of RKF represented the seller in the


About SL Green Realty Corp.

SL Green Realty Corp., New York City’s largest office landlord, is a

fully integrated real estate investment trust, or REIT, that is focused

primarily on acquiring, managing and maximizing value of Manhattan

commercial properties. As of September 30, 2014, SL Green held interests

in 96 Manhattan buildings totaling 44.1 million square feet. This

included ownership interests in 28.0 million square feet of commercial

buildings and debt and preferred equity investments secured by 16.1

million square feet of buildings. In addition to its Manhattan

investments, SL Green held ownership interests in 35 suburban buildings

totaling 5.9 million square feet in Brooklyn, Long Island, Westchester

County, Connecticut and New Jersey. For more information, please visit:

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SL Green Realty Corp.
Andrew Mathias, President

DiLiberto, Chief Accounting Officer & Treasurer

Source: SL Green Realty Corp.

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