SL Green Inks Midtown's Largest Relocation Lease Year to Date
Marcum & Kliegman LLP Relocates to 750 Third Avenue
New York, NY - May 12, 2009 - SL Green Realty Corp. (NYSE: SLG) today announced that accounting firm Marcum & Kliegman LLP has signed a new 10-year lease covering 67,152 square feet at 750 Third Avenue. The transaction is the largest tenant relocation lease signed in Midtown Manhattan so far in 2009 and is a follow up to SL Green's recent new lease with Wells Fargo Trade Capital Services covering 57,000 square feet at 100 Park Avenue.
SL Green will construct a turn-key installation for Marcum & Kliegman, building out the entire 11th and 12th floors to precise specifications agreed upon in advance of lease execution.
"We're delighted to welcome Marcum & Kliegman to the building," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green. "We worked closely with Marcum to design a comprehensive turn-key installation for their new space, one which will provide ‘plug and go' convenience with all work being performed on an accelerated construction schedule. The ability to provide a turn-key build-out on such a large scale is testament to the depth and expertise of our firm's team of in-house professionals."
Also known as Grand Central Square, the 34-story 857,354-square-foot building interconnects with SL Green's 485 Lexington Avenue. A recently completed capital program included a new lobby, elevator cabs, and upgraded state-of-the-art security systems. Other tenants include Eisner, LLP, Fairchild Publications, Teachers Insurance and Annuity Association, Endurance Reinsurance Corp. and Schonbraun McCann Consulting Group.
David Kaufman, SL Green Senior Vice President, represented the landlord, while Newmark Knight Frank's Neal Golden, Ross Perlman and Lee Brodsky acted on behalf of the tenant.
Noah Shapiro, Esq. of Paul Hastings was counsel for the landlord; Spenser Stein, Esq. of Goldfarb & Fleece represented the tenant.
About SL Green Realty Corp.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of March 31, 2009, the Company owned 29 New York City office properties totaling approximately 23,211,200 square feet, making it New York's largest office landlord. In addition, at March 31, 2009, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 32 suburban assets totaling 6,949,700 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
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