Citigroup closes in on SL Green’s Tribeca tower

October 23, 2013 04:22PM

Citigroup has a renewal and expansion at SL Green Realty’s 388-390 Greenwich Street in its crosshairs.

Though a lease has yet to be finalized and could still fall through, people familiar with the situation told the Wall Street Journal that the move to consolidate several of its Manhattan offices at the Tribeca building looks increasingly likely.

Should the deal make it through, the arrangement would mark one of New York City’s largest leases in years. Should Citigroup depart, SL Green will be on the hook to fill all of its 2.6 million-square-foot building.

Citigroup has also looked at Silverstein Properties’ 2 World Trade Center, which it would anchor if chosen, and a Hudson Yards locale on the far West Side.

The Greenwich Street site, however, has long been considered a frontrunner. [WSJ]Julie Strickland