SL Green Announces Acquisition of 126-132 Nassau Street
March 02 2020 - 7:35AM
Business Wire
SL Green to Build New 215,00-Square-Foot
Building for Long-Term Tenant
SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office
landlord, today announced that it has entered into a 99-year ground
lease of 126-132 Nassau Street, located at the corner of Nassau and
Beekman Streets. SL Green intends to develop a new, as-of-right,
215,000-square-foot building on the site and has secured a user for
a long term net ground lease condominium of the building. The
existing 98,412-square-foot office building will be demolished to
make way for the new tower.
“We are thrilled to announce our fourth ground up construction
project in Lower Manhattan, adding to our strong history of
successful downtown projects at 180 Broadway, 33 Beekman, and 185
Broadway,” said Brett Herschenfeld, Managing Director of SL
Green. “Lower Manhattan has become a global destination,
serving as a hub of commercial, residential and retail activity,
and we’re confident this development will build upon the momentum
that downtown continues to enjoy.”
David Falk and Kyle Ciminelli of Newmark Knight Frank
represented the buyer on the 30-year leasehold condominium. Ross
Berkowitz and Ariel Schuster of Newmark Knight Frank consulted on
the transaction.
About SL Green
SL Green Realty Corp., an S&P 500 company and 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 December 31, 2019, SL Green held interests in 97 buildings
totaling 44.0 million square feet. This included ownership
interests in 26.5 million square feet of Manhattan buildings and
16.4 million square feet securing debt and preferred equity
investments.
To be added to the Company's distribution list or to obtain the
latest news releases and other Company information, please visit
our website at www.slgreen.com or contact Investor Relations at
(212) 594-2700.
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Source: SL Green Realty Corp.
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