SL Green Executes New 49-Year Net Lease at 562 Fifth Avenue

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Signs Additional 320,214 Square Feet of Manhattan

During Fourth Quarter to Date 2015


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

property owner and an S&P 500 company, today announced a new

full-building, 49 year net lease at 562 Fifth Avenue. The lease contains

a property purchase option for $100.0 million with annual escalations in

the purchase price after the third year.

Brett Herschenfeld, Managing Director at SL Green, commented, “This

lease, along with our recently announced sales of 570 and 574 Fifth

Avenue, caps off yet another successful Fifth Avenue retail investment.”

Additionally, SL Green announced that 320,214 square feet of long-term

office leases have been signed in the Manhattan portfolio during the

fourth quarter to date. These leases included:

  • a 50,000 square foot lease renewal signed with City University of New

    York at 555 West 57th Street;

  • a 44,874 square foot renewal and expansion lease signed with Murex

    North America, Inc. at 810 Seventh Avenue;

  • a new 38,050 square foot lease signed with attorneys Golenbock,

    Eiseman, Assor, Bell & Peskoe, LLP at 711 Third Avenue;

  • a 22,889 square foot lease renewal signed with KPS Capital Partners,

    L.P. at 485 Lexington Avenue.

Steven Durels, Director of Leasing and Real Property for SL Green,

commented, “These leases are a continuation of the strong leasing

velocity experienced within our portfolio throughout all of 2015.”

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 September 30, 2015, SL

Green held interests in 121 Manhattan buildings totaling 43.2 million

square feet. This included ownership interests in 30.6 million square

feet of commercial buildings and debt and preferred equity investments

secured by 12.6 million square feet of buildings. In addition to its

Manhattan investments, SL Green held ownership interests in 35 suburban

buildings totaling 5.3 million square feet in Brooklyn, Long Island,

Westchester County, Connecticut and New Jersey.


Steven Durels
Director of Leasing and Real Property


Source: SL Green Realty Corp.

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