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© 2022 Observer Media · Terms · Privacy

SL Green Realty Corp.

An S&P 500 company and real estate investment trust. SL Green is one of the largest office landlords in New York City.

As of 2020, SL Green held interests in 96 buildings encompassing some 41 million square feet of space and ownership interests in 28.7 million square feet of Manhattan buildings, according to its website.

Stephen Green founded what he called SL Green Properties Inc. in 1980 with a relatively modest goal in mind: Buy “up Class B buildings, invest a chunk of money to redo lobbies, facades and other public spaces and then push up rents toward, but still below, Class A levels as older tenants move out,” as the New York Times wrote in a profile of the founder and his brother Mark Green, the city’s public advocate and a Democratic candidate for mayor.

“Steve at the time owned the moniker, ‘King of the Bs,’” Marc Holliday, who became CEO of the REIT in 2004, told Commercial Observer in 2018. Green had “an older building portfolio, but in good locations with a great brand name, and I took on that challenge of working with Steve and financing his team for the better part of two years, which culminated in the IPO of SL Green in 1997.”

Since Holliday’s ascent, the company has purchased some of the most well-known addresses in New York City, including the Pershing Square Building, the Greybar Building, 1515 Broadway and 1185 Avenue of the Americas. It has also developed new construction, including the 1,401-foot One Vanderbilt, the city’s second-tallest office tower, which SL Green unveiled in 2020.

590 Fifth Avenue.
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Gov. Kathy Hochul at a Blackjack table with real estate developers
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NYC’s First Half CRE Investment Sales Volume up 99 percent: Report

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Meta logo displayed on a phone screen and and Amazon Web Services logo displayed on a laptop screen are seen in this illustration photo taken in Krakow, Poland on December 1, 2021. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
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National

Sunday Summary: It’s the End of the Lease as We Know It

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A rendering of One Madison Avenue on the border of Madison Square Park. Plans call for a new tower on top of the building's existing podium which will deliver 22 floors of office space.
Finance
New York City

SL Green Prioritizing Reducing Debt Amid Leasing Challenges 

By Andrew Coen
750 Third Avenue
Leases  ·  Office
New York City

Polish Mission to the UN, Accountant Grassi & Co. Ink Deals at 750 Third Ave

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245 Park Avenue
Legal
New York City

Judge Stops HNA From Selling Assets While SL Green Awaits $185M Payout

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609 Fifth Avenue
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New York City

SL Green Sells Former WeWork Location at 609 Fifth for $100M

By Rebecca Baird-Remba
Premium
245 Park Avenue.
Legal
New York City

HNA Owes SL Green $185M Over Surprise Bankruptcy

By Celia Young
Premium
Industry  ·  Politics & Real Estate
New York City

Sunday Summary: Presenting the Power 100 for 2022!

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Premium
One Vanderbilt reached the sky, as did much of Class A office.
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National

Flight to Quality Reached the Moon in 2022

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Premium
US actor and designer John Malkovich during a press conference on his exhibition entitled "Constantly Being Born - Clothes and Pencil Dreams" held at the Luigi Pecci Museum of Modern Art in 2010.
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Sunday Summary: Blackstone, Blackstone!

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A glassy building viewed from far away on the street.
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Midtown

Environmental Services Company Inks 10K-SF Deal at One Vanderbilt

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450 Park Avenue
Sales  ·  Commercial
New York City

SL Green Buying 450 Park for $445M

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Cedrik Lachance in Green Street's New York offices.
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Green Street’s Cedrik Lachance On ‘the Real Story of Office’ Right Now

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What Office Landlords Spend on Amenities to Draw Tenants

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Rising inflation and higher interest rates to try to rein it in have sparked comparisons to the economic climate in the U.S. in the 1970s, which included long gas lines and creative attempts at boosting household income.
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National

Sunday Summary: That ‘70s Rerun

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Times Square’s Latest Transformation Worthy of TikTok

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July 28th 2020 Magazine Issue Cover
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