NEW YORK--(BUSINESS WIRE)--May 10, 2018--
SL Green Realty Corp. (NYSE: SLG), New York city’s largest commercial
landlord, today announced it was the successful bidder for the leasehold
interest at 2 Herald Square, at the foreclosure of the asset. The
Company has also reached an agreement to joint venture the asset with an
Israeli-based institutional investor, subsequent to closing on the
Located on a prime corner of Herald Square (the intersection of Sixth
Avenue, Broadway, and 34th Street), 2 Herald is a 369,000 square foot
office and retail asset in one of Manhattan’s busiest submarkets. Foot
traffic along the 34th Street corridor, driven from Penn Station and
Macy’s Department store, exceeds 100 million people per annum. Notable
tenants in the building include WeWork, which is primarily occupied by
Amazon, Victoria’s Secret, and Mercy College.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
commercial 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 March 31, 2018, SL Green
held interests in 118 Manhattan buildings totaling 49.9 million square
feet. This included ownership interests in 28.7 million square feet of
Manhattan buildings and debt and preferred equity investments secured by
21.2 million square feet of buildings. In addition, SL Green held
ownership interests in 25 suburban buildings totaling 3.7 million square
feet in Brooklyn, Long Island, Westchester County, and Connecticut.
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Source: SL Green Realty Corp.
SL Green Realty Corp.