SL Green Inks 72,500 Square-Foot Lease With Verition Group at 245 Park Avenue
NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, today announced that it has signed a 72,515 square foot, 10-year lease with leading hedge fund Verition Group NY, Inc., raising occupancy in the building to 92.5%. Verition will expand its footprint in the building by 34,413 square feet, relocating from the 35th floor to the entire 14th and 15th floors. This transaction increases SL Green's office leases signed year to date to 3,002,971 square feet.
"We're delighted to expand and extend our valued relationship with Verition Group," said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green, who added, "Our transformative redevelopment plan will elevate the tenant experience and identify 245 Park Avenue as one of the premier buildings in the country's most desirable office market."
The redevelopment includes a spectacular new lobby, reimagined plazas, new storefronts, new windows and a jewel-like terracotta overclad of the Park Avenue podium facade. Additionally, new amenities will include a tenant-only wellness center featuring a large fitness center, country club style golf lounge and upscale cafe operated by Michelin star chef Daniel Boulud's team. A one-of-a-kind rooftop garden will overlook the city skyline and direct access connects the building to Grand Central Terminal.
The tenant was represented by Bill Levitsky and John Cilmi, Jr. of Newmark. The landlord was represented by Cushman & Wakefield's Bruce Mosler, Harry Blair, Tara Stacom, Ron LoRusso, Justin Royce, Pierce Hance and Will Yeatman.
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, 2024, SL Green held interests in 55 buildings totaling 31.8 million square feet. This included ownership interests in 28.1 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.
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