NEWS

SL Green Reaches 52 Percent Leased at One Vanderbilt, Building Opening Accelerated to Early August, 2020

Refinances project with new $1.75 Billion construction facility

NEW YORK–(BUSINESS WIRE)–Dec. 3, 2018–
SL Green Realty Corp. (NYSE:SLG), New York City’s largest office
landlord, today announced that it has reached 52 percent leased at One
Vanderbilt Avenue, the 1,401-foot office tower in East Midtown set to
redefine the New York City skyline, with the following new leases:

  • TD Securities, a leading investment banking group that provides a wide
    range of capital markets products and services, has signed a 20-year
    lease for 119,000 square feet occupying two and a half podium floors
    in the base of the building. The financial firm will also lease an
    additional 52,450 square feet at SL Green’s 125 Park Avenue. This
    lease co-locates TD Securities with TD Bank.
  • MFA Financial Inc., a publicly traded real estate investment trust
    with a market capitalization of $3.2 billion, has signed a 15-year
    lease for 30,000 square feet occupying the entire 47th
    floor.
  • McDermott Will & Emery, a premier international law firm, has expanded
    their 20-year lease by taking an additional 10,000 square feet. The
    law firm will relocate its New York operations to One Vanderbilt,
    taking floors 44 through 46 and floor 67.
  • SL Green will relocate its headquarters from 420 Lexington Avenue to
    One Vanderbilt, leasing 70,000 square feet on the 27th and
    28th floors.

SL Green also announced the refinancing of the project’s construction
facility, increasing the facility size from $1.5 billion to $1.75
billion and decreasing the interest rate by 75 basis points. The
significant improvement in terms was due, in large part, to the rapid
pace of leasing and construction progress. Since SL Green broke ground
on the project in 2016, the super structure has risen to the 60th
floor.

“Achieving more than 50 percent leased at this point in One Vanderbilt’s
timeline is not only a testament to East Midtown’s status as New York’s
premier business district, but also the world-class experience we’re
going to provide our tenants in this premier property,” saidAndrew
Mathias, President of SL Green
. “In fact, leasing is moving so
briskly that SL Green had to move quickly to secure our new headquarters
within One Vanderbilt, reaffirming our commitment to the building. With
both construction and leasing ahead of schedule, I’m confident that One
Vanderbilt will continue to attract leading businesses looking for the
most sophisticated new office construction.”

“Over the last decade, TD Securities has grown significantly in the
U.S., including in the New York region,” says Glenn Gibson, Vice
Chair, TD Securities
. “Our new premises at One Vanderbilt and 125
Park Avenue reflect our commitment to our clients, colleagues and
ongoing US growth strategy, and will also continue to strengthen our
alignment with TD Bank, AMCB.”

In a statement, Craig Knutson, MFA’s CEO and President said, “MFA
looks forward to moving to One Vanderbilt in 2020. We believe that
consolidating our employees onto a single floor in state-of-the-art
office space will provide a dynamic, productive and collaborative
environment for our team and a strong inducement for future recruitment.”

“We are extremely excited about our move to our new home in One
Vanderbilt, with this expansion taking us to four full floors. Our New
York team is growing steadily and this addition reflects our deep
commitment to growth and excellence. When complete, One Vanderbilt will
embody sophistication, distinction and the highest quality—much like
McDermott does today—and we couldn’t be more thrilled for our people and
clients for this next chapter,” commented John Yoshimura, Chief
Operating Officer at McDermott Will & Emery
.

TD Securities and MFA Financial join a distinguished roster of top-tier
financial, banking and legal firms that have committed to One
Vanderbilt. Other tenants previously announced at the building
include: TD Bank with approximately 200,000 square feet of office space;
global alternative asset manager, The Carlyle Group; one of the nation’s
largest law firms, Greenberg Traurig; leading international law
firm McDermott Will & Emery; and global German financial firms DZ and
DVB Banks. Award-winning chef Daniel Boulud has partnered with SL Green
to create a signature restaurant experience in the building.

Earlier this year, the American Institute of Architects (AIA) recognized
One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF)
Associates, with the prestigious AIA NY Merit Award in Urban Design.
Encompassing an entire city block, the building is bounded by Madison
and Vanderbilt Avenues to the west and east, and East 43rd and East 42nd
Streets to the north and south. Expected to achieve both LEED Gold under
version 4.0 and WELL certification, the trophy tower will feature
floor-to-ceiling slab heights ranging from 14’6″ to 24′, column-free
floor plates, stunning 360-degree views through floor-to-ceiling windows
and best-in-class infrastructure. Anchoring the modernization of East
Midtown, One Vanderbilt will provide tenants with a combination of
amenities unrivaled in New York City, including a 30,000-square-foot
tenant-only amenity floor with large format meeting spaces, club style
lounge and extraordinary outdoor terrace. Immediately adjacent to Grand
Central Terminal, the building will create direct connections to the
surrounding transit network. SL Green is investing an unprecedented $220
million in private funds to upgrade the transit system.

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, 2018, SL
Green held interests in 106 Manhattan buildings totaling 46.4 million
square feet. This included ownership interests in 28.2 million square
feet of Manhattan buildings and 18.2 million square feet of buildings
securing debt and preferred equity investments. In addition, SL Green
held ownership interests in 15 suburban buildings totaling 2.3 million
square feet in Brooklyn, Westchester County, and Connecticut.

Forward-looking Statement

This press release includes certain statements that may be deemed to
be “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and are intended to be covered
by the safe harbor provisions thereof. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that we expect, believe or
anticipate will or may occur in the future, are forward-looking
statements. Forward-looking statements are not guarantees of future
performance and we caution you not to place undue reliance on such
statements. Forward-looking statements are generally identifiable by the
use of the words “may,” “will,” “should,” “expect,” “anticipate,”
“estimate,” “believe,” “intend,” “project,” “continue,” or the negative
of these words, or other similar words or terms.

Forward-looking statements contained in this press release are
subject to a number of risks and uncertainties, many of which are beyond
our control, that may cause our actual results, performance or
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
otherwise.

SLG- LEAS

Source: SL Green Realty Corp.

Investors:

Matt DiLiberto

Chief Financial Officer
SL
Green Realty Corp.
(212) 594-2700

Press:
BerlinRosen

slgreen@berlinrosen.com

646.452.5637