SL Green Inks 72,500 Square-Foot Lease With Verition Group at 245 Park Avenue
SL Green Realty Corp has secured a significant 72,515 square-foot, 10-year lease with Verition Group NY at 245 Park Avenue. The hedge fund will expand its space by 34,413 square feet, moving from the 35th floor to occupy the entire 14th and 15th floors. This deal brings the building's occupancy to 92.5% and increases SL Green's total office leases for the year to 3,002,971 square feet.
The property is undergoing a transformative redevelopment, including a new lobby, renovated plazas, new windows, and terracotta facade updates. New amenities will feature a wellness center, golf lounge, upscale cafe by Michelin star chef Daniel Boulud's team, and a rooftop garden with city views.
SL Green Realty Corp ha concluso un importante contratto di locazione di 72.515 piedi quadrati della durata di 10 anni con Verition Group NY presso 245 Park Avenue. Il fondo hedge espanderà il proprio spazio di 34.413 piedi quadrati, trasferendosi dal 35° piano per occupare l'intero 14° e 15° piano. Questo accordo porta l'occupazione dell'edificio al 92,5% e aumenta il totale degli affitti per uffici di SL Green per l'anno a 3.002.971 piedi quadrati.
La proprietà è attualmente in fase di trasformazione con una ristrutturazione significativa, che include un nuovo ingresso, piazze ristrutturate, nuove finestre e aggiornamenti della facciata in terracotta. I nuovi servizi comprenderanno un centro benessere, una lounge per golfisti, un caffè di alta gamma gestito dal team dello chef stellato Michelin Daniel Boulud, e un giardino sul tetto con vista sulla città.
SL Green Realty Corp ha asegurado un importante contrato de arrendamiento de 72.515 pies cuadrados por un periodo de 10 años con Verition Group NY en 245 Park Avenue. El fondo de cobertura ampliará su espacio en 34.413 pies cuadrados, trasladándose del piso 35 para ocupar los pisos 14 y 15 en su totalidad. Este acuerdo lleva la ocupación del edificio al 92,5% y aumenta el total de arrendamientos de oficinas de SL Green para el año a 3.002.971 pies cuadrados.
La propiedad está pasando por una transformación significativa con una remodelación que incluye un nuevo vestíbulo, plazas renovadas, nuevas ventanas y actualizaciones en la fachada de terracota. Los nuevos servicios incluirán un centro de bienestar, una sala de golf, un café exclusivo dirigido por el equipo del chef con estrella Michelin Daniel Boulud y un jardín en la azotea con vistas a la ciudad.
SL Green Realty Corp는 245 Park Avenue에서 Verition Group NY와 10년 간의 72,515 평방 피트 규모의 임대 계약을 체결했습니다. 헤지펀드는 35층에서 14층과 15층 전체를 차지하기 위해 34,413 평방 피트를 추가로 확장할 예정입니다. 이 계약으로 건물의 점유율은 92.5%에 이르고 SL Green의 연간 총 오피스 임대 면적은 3,002,971 평방 피트로 증가합니다.
이 부동산은 새로운 로비, 리노베이션된 광장, 새로운 창문 및 테라코타 외관 업데이트를 포함한 변혁적인 재개발 중에 있습니다. 새로운 편의 시설에는 웰니스 센터, 골프 라운지, 미슐랭 스타 셰프 다니엘 불루의 팀이 운영하는 고급 카페 및 도시 전망을 갖춘 옥상 정원이 포함됩니다.
SL Green Realty Corp a sécurisé un important bail de 72.515 pieds carrés d'une durée de 10 ans avec Verition Group NY au 245 Park Avenue. Le fonds spéculatif va étendre son espace de 34.413 pieds carrés, déménageant du 35ème étage pour occuper entièrement les 14ème et 15ème étages. Cet accord porte l'occupation du bâtiment à 92,5% et augmente le total des baux de bureaux de SL Green pour l'année à 3.002.971 pieds carrés.
Le bien immobilier est en pleine transformation avec une rénovation majeure, comprenant un nouveau hall, des places rénovées, de nouvelles fenêtres et des mises à jour de la façade en terre cuite. Les nouvelles commodités comprendront un centre de bien-être, un salon de golf, un café haut de gamme dirigé par l'équipe du chef étoilé Michelin Daniel Boulud, et un jardin sur le toit avec vue sur la ville.
SL Green Realty Corp hat einen bedeutenden Mietvertrag über 72.515 Quadratfuß für 10 Jahre mit Verition Group NY in 245 Park Avenue abgeschlossen. Der Hedgefonds wird seinen Raum um 34.413 Quadratfuß erweitern und vom 35. Stock in die gesamten 14. und 15. Etagen umziehen. Dieses Geschäft erhöht die Belegungsquote des Gebäudes auf 92,5% und steigert die gesamten Bürovermietungen von SL Green für das Jahr auf 3.002.971 Quadratfuß.
Die Immobilie befindet sich mitten in einer transformativen Umgestaltung, die eine neue Lobby, renovierte Plätze, neue Fenster und Aktualisierungen der Terrakotta-Fassade umfasst. Neue Annehmlichkeiten umfassen ein Wellness-Center, eine Golf-Lounge, ein gehobenes Café, betrieben vom Team des mit einem Michelinstern ausgezeichneten Kochs Daniel Boulud, sowie einen Dachgarten mit Blick auf die Stadt.
- Secured major 72,515 sq ft, 10-year lease with Verition Group
- Building occupancy increased to 92.5%
- Total office leases for the year reach 3,002,971 square feet
- Tenant expanding footprint by additional 34,413 square feet
- None.
Insights
This lease deal represents a significant win for SL Green in a challenging NYC office market. The 72,515 square foot expansion by Verition Group demonstrates strong demand from financial sector tenants for premium office space. The lease brings the building's occupancy to
The extensive building improvements, including the lobby renovation and premium amenities like the Michelin-star operated cafe, position 245 Park Avenue to command top-tier rents. SL Green's year-to-date leasing activity of 3 million square feet shows remarkable momentum. The 10-year commitment from Verition signals long-term confidence in both the property and Manhattan's office market recovery.
The expansion by an existing tenant validates SL Green's investment in property upgrades and amenities. This transaction type typically generates higher returns compared to new tenant leases due to reduced capital requirements and negotiation costs.
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
“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.
Forward Looking Statement
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