SL Green Increases Stake in 1745 Broadway Office Condo

Becomes Majority Owner


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

property owner, today announced that it has acquired additional

ownership interests in the 674,000-square-foot office condominium at

1745 Broadway, which is leased entirely to Random House.

SL Green, which originally acquired a 32.26 percent stake in the

property in 2007, will increase its ownership percentage to 56.88

percent as a result of the transactions. The majority of the interests,

consisting of general partnership and limited partnership interests,

were purchased from The Witkoff Group in exchange for SL Green Operating

Partnership units. By acquiring these interests the Company has

consolidated management of the property.

David Schonbraun, SL Green’s Co-Chief Investment Officer, said, “We are

pleased to assume majority ownership of this Class A asset through this

series of transactions, which we believe illustrates SL Green’s ability

to collaborate effectively with our partners to achieve all parties’

objectives. We believe this series of transactions once again

demonstrates our ability to use our joint venture platform to create

proprietary off market acquisition opportunities for SL Green, while

allowing our partners to monetize their positions without incurring

meaningful transaction costs.”

Completed in 2003, 1745 Broadway is a 50-story building conveniently

located between 55th and 56th streets along New

York’s most famous thoroughfare. Designed by Skidmore, Owings & Merrill,

the building features state-of-the-art infrastructure, efficient

column-free floor plates, sweeping river views and it is LEED-EB


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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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 Accounting Officer & Treasurer

Source: SL Green Realty Corp.

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