SL Green Renews and Expands New York Life Insurance Company at 420 Lexington

Insurance Giant Increases Commitment to 115,000 Square Feet


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

property owner, today announced that New York Life Insurance Company has

signed a 10-year renewal and expansion lease totaling 114,709 square

feet at 420 Lexington Avenue, also known as the Graybar Building. The

renewal space consists of 87,944 square feet covering the entire 15th

and part of the 14th floors and the expansion space covers 26,765 square

feet on part of the 14th floor.

This transaction combined with additional leasing success has resulted

in over 168,000 square feet of year-to-date leasing at the Graybar


“We are delighted that NY Life has opted to expand at the Graybar

Building,” said Steven Durels, Executive Vice President, Director of

Leasing and Real Property for SL Green, who added “the transaction

involves a phased expansion taking place over the next 24 months.”

Paul Glickman and Matthew Astrachan of Jones Lang LaSalle represented

New York Life, while David Kaufman acted on behalf of SL Green in-house.

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, 2016, the

Company held interests in 121 Manhattan buildings totaling 47.7 million

square feet. This included ownership interests in 29.9 million square

feet of commercial buildings and debt and preferred equity investments

secured by 17.8 million square feet of buildings. In addition, the

Company held ownership interests in 31 suburban buildings totaling 4.9

million square feet in Brooklyn, Long Island, Westchester County,

Connecticut and New Jersey.


Steven Durels, Exec VP,
Director of Leasing and Real Property

Green Realty Corp.
(212) 216-1617

Source: SL Green Realty Corp.

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