The Real Deal New York

SL Green signs 17 leases at Graybar building

Occupancy at 420 Lexington expected to hit 98% by third quarter

April 22, 2014 08:30AM

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420-lex

420 Lexington Avenue and Steve Durels

SL Green’s Graybar building is now 95 percent leased after a bevy of recent office deals.

The 30-story property at 420 Lexington Avenue has seen 17 new leases totaling 86,333 square feet. Private equity firm Pride Global Finance and Pride Technologies LLC, for example, agreed to expand by nearly 19,700 square feet.

Steve Durels, leasing director at SL Green, said he expects the building will reach 98 percent occupancy by the year’s third quarter. The property, in the Grand Central District, also doubles as SL Green’s headquarters.

In December, Metro-North Commuter Railroad, an affiliate of the Metropolitan Transportation Authority, signed a 20-year lease to renew there – going from 133,503 to nearly 266,000 square feet, as previously reported. Insurer New York Life occupies about 100,000 square feet, the New York Post reported. [NYP, 2nd item]Mark Maurer

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