SL Green Signs 77,000 Square Foot Lease with Stonepeak Partners at 245 Park Avenue

NEW YORK, Dec. 04, 2023 (GLOBE NEWSWIRE) — SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that Stonepeak Partners, L.P., a leading international alternative investment firm, has signed a new 76,716 square foot, 15-year lease covering the entire 31st and 32nd floors at 245 Park Avenue. To date in 2023, SL Green has signed leases totaling 199,872 square feet in the building.

“We’re delighted to welcome Stonepeak Partners to 245 Park Avenue as we commence a transformative redevelopment of the building,” said Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property. “Park Avenue continues to be the premier Manhattan submarket as world class companies increasingly focus on midtown as their preferred office location.”

245 Park Avenue is a 1.8 million-square-foot, Class A office building located directly across from JP Morgan Chase’s new world headquarters. SL Green has retained Kohn Pederson Fox to lead a redevelopment design which includes the installation of a jewel-like terra cotta overclad of the Park Avenue façade, new windows, new lobby and elevator cabs, spectacular plaza featuring colonnades of columnar trees, a cutting-edge 17,000 square foot wellness center with newly imagined golf lounge and grab-n-go, new 10,000 square foot, plaza level fine dining restaurant and new rooftop restaurant with beautifully landscaped roof patio.

Stonepeak Partners, L.P. was represented by Silvio Petriello, Ben Friedland and Tamika Kramer of CBRE, and the landlord was represented by Patrick Murphy, Bruce Mosler, Tara Stacom, Harry Blair, Ron LoRusso, Justin Royce and Will Yeatman of Cushman & Wakefield.

About SL Green Realty Corp.
SL Green Realty Corp., Manhattan’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, 2023, SL Green held interests in 59 buildings totaling 32.5 million square feet. This included ownership interests in 28.8 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

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Source: SL Green Realty Corp