SL Green Signs 191,000 Square Foot Expansion With Bloomberg At 919 Third Avenue
SL Green Realty Corp. (NYSE: SLG) announced the signing of two new leases at One Vanderbilt Avenue, totaling over 19,500 square feet, alongside Bloomberg LP's expansion lease at 919 Third Avenue, now totaling 748,415 square feet. In the fourth quarter alone, SL Green has secured 359,032 square feet in leases, contributing to a total of 1.7 million square feet leased in 2021. These developments affirm SL Green's strong position in Manhattan's office market, with One Vanderbilt now at 92.7% occupancy.
- Leased 19,522 square feet to Flexpoint Ford and expanded Bloomberg LP's lease to 748,415 square feet.
- Total of 1,714,940 square feet leased in Manhattan for 2021, indicating strong demand.
- One Vanderbilt Avenue is now 92.7% leased, improving occupancy rates.
- None.
Two Additional Leases Signed At One Vanderbilt Avenue
1.7 Million Square Feet Signed In 2021
NEW YORK, Dec. 06, 2021 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that Bloomberg LP, a leading financial, software, data and media company, has signed a 191,207 square foot expansion lease at 919 Third Avenue covering the entire 28th through 33rd floors. This expansion increases Bloomberg’s commitment at 919 Third Avenue to 748,415 square feet.
In addition, at One Vanderbilt Avenue, SL Green signed a new 19,522 square foot lease with Flexpoint Ford, a private equity firm with a history of investing in the financial services and healthcare sectors, covering a portion of the 61st floor and a 6,554 square foot expansion lease with Stone Point Capital LLC covering a portion of the 50th floor. One Vanderbilt is now
SL Green has signed 359,032 square feet of Manhattan office leases to date in the fourth quarter and 1,714,940 square feet of Manhattan office leases to date in 2021.
“We’re delighted to expand our valued relationship with Bloomberg for the second time,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green. “This expansion is a testament to the resiliency of New York’s office market and the desirability of Class A office space for companies to promote creativity and collaboration.”
Designed by the internationally renowned architecture firm Skidmore, Owings & Merrill, 919 Third Avenue is a 1.5 million-square-foot, 47-story glass and steel office tower. The lobby, entrances and elevator cabs are currently undergoing an extensive renovation with a design that emphasizes a warm, upscale hospitality ambiance and features in-lobby coffee bar and new bike room with direct access to the exterior plaza.
Craig Reicher and Howard Fiddle of CBRE represented Bloomberg LP. Jared Horowitz of Newmark represented Flexpoint Ford. John Maher and Hugh MacDonald of CBRE represented Stone Point Capital while Robert Alexander, Ryan Alexander, Emily Chabrier and Alex D’Amario of CBRE represented the landlord in each transaction.
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, 2021, SL Green held interests in 76 buildings totaling 35.3 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 7.3 million square feet securing debt and preferred equity investments.
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG - LEAS
PRESS CONTACT
slgreen@berlinrosen.com
FAQ
What are the recent lease agreements by SL Green Realty Corp. (SLG)?
How much office space has SL Green Realty signed in 2021?
What is the current occupancy rate of One Vanderbilt Avenue?
What is the significance of Bloomberg LP's lease expansion for SL Green (SLG)?
