SL Green Announces Acquisition of Mixed-Use Properties in Downtown Manhattan


SL Green Realty Corp. (NYSE:SLG), an S&P 500 company and New York City’s

largest commercial property owner, today announced the acquisition of

two mixed-use properties located at 187 Broadway and 5-7 Dey Street for

$63.7 million. The transaction was completed off-market, directly with

the seller.

Located adjacent to the entrance to Downtown Manhattan’s new Fulton

Transit Center and one block east of the World Trade Center, the site

consists of two mixed-use, retail/office buildings in a neighborhood

that has undergone rapid growth in the office, residential and retail


The properties sit directly across from 180 Broadway, a dormitory and

retail asset that SL Green successfully developed from ground-up and,

subsequently, sold in the third quarter of 2014.

SL Green Managing Director Brett Herschenfeld commented, “This

transaction perfectly illustrates how SL Green seeks to use its size,

market expertise, proprietary OP Unit currency and industry

relationships to identify and take advantage of compelling, well-located

acquisition opportunities. 187 Broadway and 5-7 Dey Street are situated

adjacent to the Fulton Transit Center, which is serving as the fulcrum

of the continuing revitalization of Downtown Manhattan and we are

excited to once again create value in the corridor.”

The transaction is expected to close in the third quarter of 2015,

subject to customary closing conditions. Carl Schwartz and Matt Scoville

of Hunton & Williams represented the seller. Peter Fisch and Vincent

Asaro of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented the


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, or

REIT, that is focused primarily on acquiring, managing and maximizing

value of Manhattan commercial properties. As of March 31, 2015, SL Green

held interests in 117 Manhattan buildings totaling 43.6 million square

feet. This included ownership interests in 29.0 million square feet of

commercial buildings and debt and preferred equity investments secured

by 14.6 million square feet of buildings. In addition to its Manhattan

investments, SL Green held ownership interests in 37 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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be “forward-looking statements” within the meaning of the Private

Securities Litigation Reform Act of 1995 and are intended to be covered

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statements of historical facts, included in this press release that

address activities, events or developments that we expect, believe or

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Forward-looking statements contained in this press release are

subject to a number of risks and uncertainties, many of which are beyond

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achievements to be materially different from future results, performance

or achievements expressed or implied by forward-looking statements made

by us. Factors and risks to our business that could cause actual results

to differ from those contained in the forward-looking statements are

described in our filings with the Securities and Exchange Commission. We

undertake no obligation to publicly update or revise any forward-looking

statements, whether as a result of future events, new information or



SL Green Realty Corp.
Andrew Mathias

Chief Financial Officer

Source: SL Green Realty Corp.

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