The Real Deal New York

Category: SL Green

  • 600 Lexington Avenue

    600 Lexington Avenue

    Law firm Goldberg Segalla has more than doubled its space with a move to SL Green Realty’s 600 Lexington Avenue.

    The firm’s old home at 780 Third Avenue, at just under 5,000 square feet, was its first in New York City and opened a year ago. The new digs will be roughly 12,500 square feet on the 36-story office tower’s ninth floor, where asking rent was $65 per square foot. [more]

  • From left: Ben Shaoul and 250 Bedford

    From left: Ben Shaoul and 250 Bedford Avenue

    Magnum Real Estate Group and SL Green Realty’s Williamsburg Social is fully leased, a spokesperson for the project told The Real Deal exclusively. [more]

  • SL Green’s Marc Holliday

    From the February issue: After a frenzy of buying and selling in the face of declining stock prices, 2012 ended on an up-note for many of the real estate investment trusts with notable New York holdings. And while the companies’ stock prices have still not reached their pre-boom highs, many analysts are still bullish on the firms, arguing that most of them have deployed the billions they have raised in savvy, strategic ways. In a sense, that rosy outlook marks a sharp reversal in a short span of time. Indeed, just a few months ago, some analysts were guessing that some of the most active New York REITs — including SL Green Realty, Vornado Realty Trust and Boston Properties — might buy up their own stocks in a bid to prop up the trading prices. But now, that added boost doesn’t seem necessary. [more]

  • SL Green pays $122M for Soho retail

    January 31, 2013 03:45PM

    Source: The Real Deal analysis of Real Capital Analytics properties categorized as retail

    SL Green Realty added to its retail portfolio with the $122.3 million acquisition of store space in Soho, the ever-trendy neighborhood that has seen record-breaking levels of sales over the past year. [more]

  • Joseph Chetrit and the Sony building

    Joseph Chetrit is taking the next step to close the $1.1 billion purchase of the Sony tower at 550 Madison Avenue. The property owner is now in talks with SL Green, the city’s largest commercial landlord, to finance around $800 to $900 million of the acquisition, Crain’s reported. SL Green would then sell the senior portion of the debt to a bank partner. As for the remaining $300 million, SL Green would keep it as mezzanine financing on its own balance sheet, Crain’s said. This story comes on the heels of one taking a look inside the deal. [more]

  • 195 Broadway and 10 East 53rd Street

    Big five publisher HarperCollins is set to make a big move. The publishing giant is leaving its longtime Midtown headquarters for AT&T’s former Financial District headquarters at 195 Broadway, the New York Post — which is owned by the same parent company, News Corp., as the Post — reported. The months-in-the-making 15-year lease deal closed on Friday for 185,000 square feet on four and a half floors, a source told the Post. A joint venture between L&L Holding and Beacon Capital Partners owns the landmarked downtown building, with L&L acting as the managing agent. … [more]

  • 520 Madison Avenue

    Jefferies Group has renewed its 450,000-square-foot lease at 520 Madison Avenue, putting rest to speculation that the investment bank would move to a new location at Midtown West or at the World Trade Center site, Crain’s reported. The renewal adds 15 years to Jefferies’ lease in the 43-story, 1 million-square-foot tower, which is owned by Tishman Speyer. Jefferies will occupy two spaces in the tower; a large block of space on floors 2 to 13, and a smaller, higher-priced space on floors 16 to 20. In the first week of January, SL Green Realty had indicated that a deal was expected, as The Real Deal previously reported. The bank’s hesitation to move reflects the reluctance to invest in building out a new office space, which would require specialized and expensive infrastructure, such as trading systems, to be installed. [more]

  • 1185 Avenue of the Americas

    Alterra USA Holdings has inked a 27,342-square-foot lease in SL Green Realty-owned 1185 Avenue of the Americas, in a move to consolidate their New York offices into a single Midtown space, the New York Observer reported. The insurance firm, which in December 2012 was acquired by Markel Corporation for $3.13 billion, will join high-profile building tenants including News Corporation, King Spalding and the National Hockey League. Alterra previously had two separate office locations, including a 4,635 square-foot space in another SL Green-owned building, 1350 Avenue of the Americas. Scott Cahaly, a senior vice president at Jones Lang LaSalle, represented the buyer. … [more]

  • Times Square

    Asking rents in the bustling center of Times Square more than doubled over the last year, pulling even for the first time with the city’s most expensive district on Upper Fifth Avenue, commercial firm Cushman & Wakefield reported Tuesday. Landlords are asking an average of $2,283 per square foot in the Bowtie — where Broadway crosses Seventh Avenue — a 117 percent increase from last year, when it was $1,052 per square foot. [more]

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  • From left: Joe Sitt, Abe Goldstein, Jeff Sutton and 529 Broadway

    Over the past several years, some of the city’s top retail investors had been eyeing a small, down-in-the-tooth property at the corner of Spring Street and Broadway in Soho. Among its suitors: Vornado Realty Trust, SL Green Realty, Invesco and Crown Acquisitions. [more]