Press Release Details

15th Largest Manhattan Lease Signed in 2008; $72 Million Redevelopment Nearing Completion

New York, NY - August11, 2008 - SL Green Realty Corp. (NYSE: SLG) today announced that it has completed a new 15-year lease agreement with BDO Seidman LLP to occupy 121,441 square feet on floors 9 through 11 at 100 Park Avenue. The transaction raises building occupancy from 67% to 80%.
 
Established nearly 100 years ago, BDO Seidman is one of the nation's largest and most prestigious financial consulting and accounting firms, with 37 offices nationwide and a global network comprised of more than 626 international member firms.

"We're delighted to welcome BDO to the roster of blue chip tenants within the SL Green portfolio of buildings. BDO anchors the successful repositioning of the building," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, who added that the 825,815-square-foot tower is nearing completion of an extensive $72 million capital improvement program that has transformed the 36-story glass and steel skyscraper into a modern classic and winner of the 2007-08 BOMA award for 'Best Renovated Building of the Year.'

This transaction brings year-to-date leasing to over one million square feet throughout SL Green's Manhattan portfolio. "We continue to unlock value and complete a large volume of leasing transactions despite a difficult economic climate," said Durels.

"With a starting rent that is 82% above the previously escalated rent, this lease re-affirms continuing strong growth embedded in SL Green's portfolio of Manhattan office properties," said Gregory Hughes, Chief Financial Officer for SL Green who also noted that the transaction included a short-term takeover of BDO's existing lease.

The redevelopment of the property included a new soaring two-story atrium lobby, complete re-cladding of the façade featuring a glass curtain wall along Park Avenue, 2,000 new insulated windows, new elevator cabs and extensive infrastructure upgrades. Additionally, 100 Park Avenue is on schedule to be one of the first existing commercial buildings to receive a silver LEED designation in Manhattan.

When BDO Seidman takes occupancy in January 2009, it will join other prominent firms located at 100 Park Avenue such as J&W Seligman & Co., Impala Asset Management, Sun Capital Advisors and Kreindler & Kreindler LLP.

Howard Ecker of Howard Ecker & Company represented BDO Seidman in the transaction, while Cushman & Wakefield's Paul Glickman, Tara Stacom, Mitti Liebersohn, Alexander Chudnoff, Diana Biasotti, and Jonathan Tootell acted on SL Green's behalf.

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 June 30, 2008, the Company owned 30 New York City office properties totaling approximately 23,719,200 square feet, making it New York's largest office landlord. In addition, SL Green holds investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, two development properties encompassing approximately 363,000 square feet and two land interests, along with ownership interests in 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.

CONTACT:

SL Green Realty Corp.
Steven Durels, Exec VP,
Director of Leasing and Real Property
(212) 216-1617
-or-
Heidi Gillette
Director, Investor Relations
(212) 216.1654