The Real Deal New York

Posts Tagged ‘sl green’

  • Bob Knakal and

    Bob Knakal and 985-989 Third Avenue

    Major office landlord SL Green is looking to sell a development site on the southeast corner of East 59th Street and Third Avenue directly across the street from Bloomingdale’s department store, The Real Deal has learned. [more]

  • 1080-amsterdam

    1080 Amsterdam Avenue

    A Morningside Heights property that previously housed hospital staff is ready to reopen as a rental building following a two-year renovation. The 96-unit residential building at 1080 Amsterdam was developed by Stonehenge Partners and SL Green, and designed by Steven Kratchman Architects with interior design by Andres Escobar.

    Stonehenge Partners and SL Green partnered on the $13 million purchase of a 99-year lease on the property in 2012. Renovations on the 73-year-old, 82,250-square-foot building included upgrades to the heating and electrical systems, corridors and windows, and elevators. The building was most recently used by St. Luke’s Hospital Center to house its staff, Curbed reported. [more]

  • Marc Holliday and 100 Park Avenue

    Marc Holliday and 100 Park Avenue

    Real estate investment trust SL Green and Prudential Real Estate Investors completed a $360 million refinancing of an office tower at 100 Park Avenue, according to public records filed with the city today.

    The loan was provided by a syndicate led by German commercial bank Landesbank Hessen-Thuringen Girozentrale, also known as Helaba. The refinancing was done in February, records show. [more]

  • 388-390 Greenwich Street

    388-390 Greenwich Street

    SL Green has agreed to pay nearly $800 million for Ivanhoe Camrbidge’s stake in 388-390 Greenwich Street, where Citigroup’s headquarters are located.

    The firm will plunk down $783 million for a 49.4 percent stake in the 2.6 million-square-foot office building, the New York Observer reported. Following the purchase, SL Green will hold full ownership of the building, for which the consolidated investment is valued at $1.58 billion. “We have enjoyed a successful partnership with Ivanhoe Cambridge at 388-390 Greenwich, capped by Citi’s recent lease extension, which was one of the largest lease transactions ever executed in New York,” Andrew Mathias, president of SL Green, said in a prepared statement. [more]

  • 635-sixth

    635-641 Sixth Avenue and Paul Glickman

    Business software provider Infor is doubling its space at SL Green’s 635-641 Sixth Avenue after a year.

    Infor has agreed to expand to 92,246 square feet in the Chelsea building, at 19th Street, where asking rents range from the high $70s to the high $90s  per square foot. Renovations of the company’s space will coincide with SL Green’s work to combine the two properties by early next year. [more]

  • vanderbilt

    Rendering of office tower One Vanderbilt in Midtown East

    The demise of Mayor Bloomberg’s Midtown East rezoning proposal put a freeze on developer SL Green Realty’s lofty plans for a 65-story, 1.5 million-square-foot office tower One Vanderbilt adjacent to Grand Central Station. [more]

  • From left: SL Green's Marc Holliday, 315 West 33rd Street and 333 West 34th Street

    From left: SL Green’s Marc Holliday, 315 West 33rd Street and 333 West 34th Street

    SL Green Realty’s shareholders are celebrating an early holiday gift this year, as the company announced today that it will increase dividends by more than 50 percent. [more]

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  • From left: Marc Holliday and Stephen Green (Photo by Steve Friedman)

    From left: Marc Holliday and Stephen Green (Photo by Steve Friedman)

    Manhattan is well on its way to once again becoming a landlord’s market, with a growing number of small high-end deals, a declining availability of bargain sublease space, and a strong local and national economy which would drive demand, SL Green Realty executives said in the real estate investment trust’s second-quarter conference call. [more]

  • 333 West 34th Street and SL Green's Marc Holliday

    333 West 34th Street and SL Green’s Marc Holliday

    Office landlord SL Green has agreed to sell off a 347,000-square-foot, fully leased office property at 333 West 34th Street for $220.3 million to a unit of American Realty Capital, Bloomberg News reported.

    “This purchase was made below replacement cost, will increase our portfolio asset value to almost $700 million and reflects our continuing efforts to construct a portfolio of premium New York City real estate,” American Realty Capital chief investment officer Michael Happel told Bloomberg in a statement. [more]

  • down-arrow

    U.S. real estate investment trusts saw their greatest drop in 19 months after the Federal Reserve’s announcement that it could scale back bond purchases this year, Bloomberg News reported. The Fed’s statement led to fears that rising interest rates would hike up acquisition and refinancing costs.

    The Bloomberg REIT Index declined 3 percent, the most since November 2011. Ben Bernanke, chairman of the Fed, said yesterday that policy makers may end the purchases in mid-2014 if the economy continues inching to resuscitate. REITs rely on the capital markets for financing and development costs, as they are required by law to pay most of their taxable earnings out to shareholders. [more]

  • From left: Andrew Mathias, Marc Holliday and Stephen Green (Credit: Steve Friedman)

    From left: Andrew Mathias, Marc Holliday and Stephen Green (Credit: Steve Friedman)

    From the June issue: Last month, SL Green Realty Corp. CEO Marc Holliday flew a group of his key executives and top New York brokers to Louisville for the Kentucky Derby, where Holliday’s horse, Love Train, ran in an undercard race.

    The three-year-old filly didn’t place at Churchill Downs, but Holliday’s Blue Devil Racing Stable has had a strong run, with some $2.5 million in winnings to date, according to thoroughbred racing site Equibase. [more]

  • From left: Larry Silverstein, 1 WTC and the Empire State Building

    New York City’s commercial real estate industry is edgy over the possibility of the government yanking what has come to be known as terrorism insurance, the New York Post reported.

    The program, called the Terrorism Risk Insurance Act, comes up for renewal next year; if Congress does not extend it, the cost of doing business will increase for owners of iconic properties — their insurance premiums will rise and their buildings will drop in value. [more]

  • 685 Third Avenue

    Crain Communications will make a move to 685 Third Avenue at East 44th Street, according to Crain’s, which is one of its several publications.

    The publisher – which also puts out Advertising Age and Autoweek – will take 57,000 square feet on the ninth and 10th floors of the 31-story building, where asking rents begin in the $50s per square foot. The company will shift from its current headquarters next door at SL Green-owned 711 Third Avenue.  [more]

  • From left: Gary Green, interior images of his home and Ryan Serhant

    The Upper West Side condominium unit belonging to the son of Stephen Green, chairman of the board at SL Green Realty, has gone into contract, The Real Deal has learned. [more]

  • Ben Shaoul, Google aerial view of the portfolio and Marc Holliday

    Manhattan’s largest office landlord, SL Green Realty, partnered with residential manager and developer Magnum Real Estate Group to buy newly constructed apartment units in Williamsburg for $51.5 million. [more]

  • From left: Marc Holliday, Steve Klesaris and Blue Devil filly Shot Gun Pennie

    SL Green Realty CEO Marc Holliday was unable to replicate his spectacular success in the Manhattan office market at the Kentucky Derby, with his horse Love Train failing to secure a spot on the winner’s podium, the filly’s trainer, Steve Klesaris, told The Real Deal[more]

  • 333 West 34th Street and Marc Holliday of SL Green

    Commercial landlord SL Green has listed 333 West 34th Street, a fully-leased, 350,000-square-foot office building that sources say could sell for $225 million, according to Crain’s.

    A team from Jones Lang LaSalle headed by Richard Baxter and Scott Latham is handling the sale for the landlord. The 10-story building is located between Eighth and Ninth avenues. [more]

  • Marc Holliday

    SL Green Realty CEO Marc Holliday credited New York City’s robust economic climate as a big reason for the real estate investment trust’s strong first quarter, in which it signed leases totaling nearly 600,000 square feet of space and announced nearly 1 million square feet of deals in the pipeline, during the company’s first quarter earnings call today. [more]

  • Vornado’s Steven Roth, 280 Park and Sl Green’s Marc Holliday

    Two 280 Park Avenue tenants — which were formerly in smaller, temporary spaces inside the 1.2 million-square-foot building — have inked deals that more than double their footprints, GlobeSt. reported. Asset management firm Blue Mountain Capital and consulting firm Promontory Financial Group now each have a 49,541-square-foot floor. [more]

  • The CEOs of the major New York REITs- Clockwise from top: Marc Holliday, Michael Fascitelli, Owen Thomas, David Neithercut, Dennis Friedrich, Timothy Naughton

    The large New York-focused real estate investment trusts struggled in the first quarter of 2013, unlike their national counterparts, with only SL Green Realty outperforming both the MSCI US REIT Index and the Standard & Poor 500 Stock Index.  [more]