Press Release Details

NEW YORK--(BUSINESS WIRE)-- SL Green Realty Corp. (NYSE: SLG), New York City's largest commercial property owner, today announced that is has acquired the retail property located at 102 Greene Street for $32.25 million. The transaction marks the continued growth of the Company's prime retail property portfolio, which already includes several other assets in Manhattan's popular SoHo retail district.

The 9,200-square-foot asset currently features the Galeria Melissa footwear store, and also includes two residential units and 5,500 square feet of development rights. The building is located on what is becoming one of the top luxury boutique blocks of SoHo between Prince Street and Spring Street, across the street from Tiffany and Co. and surrounded by such tenants as Ralph Lauren, Apple, Etro, Fendi, Dior, Chloe, and Louis Vuitton.

The transaction announced today is the latest in a series of recent acquisitions in SoHo by SL Green, establishing the Company's strong presence in the submarket. Area holdings already include interests in 121 Greene Street, 115 Spring Street, 131-137 Spring Street and 530-536 Broadway. SL Green's growing SoHo portfolio complements its major retail investment interests in other heavily-trafficked New York City locations, including Midtown's Fifth Avenue corridor, Madison Avenue and Times Square.

SL Green Managing Director Brett Herschenfeld commented, "SoHo has experienced a tremendous surge in upscale shopping, fueled by both tourism and evolving demographics. We expect the current trends to continue for the long-term, based on the strong economic outlook and compelling neighborhood features. SL Green will now reposition the property, consistent with our other investments in the area."

Jeffrey Fishman and Ross Berkowitz of RKF represented the seller in the transaction.

About SL Green Realty Corp.

SL Green Realty Corp., New York City'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 September 30, 2014, SL Green held interests in 96 Manhattan buildings totaling 44.1 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.1 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/

Forward-looking Statement

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements are described in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

SLG-A&D

SL Green Realty Corp.
Andrew Mathias, President
Matt DiLiberto, Chief Accounting Officer & Treasurer
212-594-2700

Source: SL Green Realty Corp.

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