SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 8-K


                       CURRENT REPORT
                       _____________

             Pursuant to Section 13 or 15(d) of the
               Securities Exchange Act of 1934


              Date of Report: February 3, 1998


                     SL GREEN REALTY CORP.
    (Exact name of Registrant as specified in its Charter)


                         Maryland
                (State of Incorporation)


       1-13199                                      13-3956775
(Commission File Number)                   (IRS Employer Id. Number)

  70 West 36th Street                                10018
   New York, New York                             (Zip Code)
(Address of principal executive offices)
 
                       (212) 594-2700
   (Registrant's telephone number, including area code)


ITEM 5.   OTHER EVENTS

     On February 3, 1998, SL Green Realty Corp. announced that it has signed
a purchase contract to acquire 1466 Broadway and the long-term operating
leaseholds of 25 West 43rd Street and 420 Lexington Avenue (The Graybar
Building) - three midtown Manhattan office buildings, for an aggregate of 
approximately $165 million (before transaction and capital costs).

ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

(b)  Exhibits

     99        Press Release, dated February 3, 1998



                                  SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                              SL GREEN REALTY CORP.





                              /s/ David J. Nettina
                              _________________________________
                              
                              David J. Nettina
                              Executive Vice President,
                              Chief Operating Officer and 
                              Chief Financial Officer



Date:  February 3, 1998

                                                                  EXHIBIT 99




                     SL GREEN REALTY CORP. SIGNS CONTRACT
                 TO ACQUIRE THREE HELMSLEY MIDTOWN PROPERTIES

     New York, NY, February 3, 1998 -- SL Green Realty Corp., (NYSE:SLG)
announced today that it has signed a purchase contract to acquire 1466
Broadway and the long-term operating leaseholds of 25 West 43rd Street and
420 Lexington Avenue (The Graybar Building) -- three midtown Manhattan office
buildings owned by Helmsley partnerships.

     The properties, which contain a combined total of 1.78 million square
feet of office and retail space, are being purchased for $165 million (before
transaction and capital costs).  SL Green anticipates closing will occur 
within the next 45 days.  SL Green has arranged interim debt financing 
through Lehman Brothers Holdings, Inc. to provide funds necessary to complete
the transaction.

     In keeping with SL Green's strategy of acquiring strategically located
commercial properties in emerging, high-growth submarkets of Manhattan, the
acquisition of these office buildings will expand SL Green's position in two
of New York City's most dynamic submarkets - the Grand Central district and
the Times Square Redevelopment area.

     The 31-story, 1.2 million square foot Graybar Building overlooks Grand
Central Terminal, a central transportation hub that is presently undergoing
extensive renovations, including the development of new retail stores,
restaurants and attractive public spaces designed to make the Terminal a
destination, not just a conduit, for people.  The 16-story landmark
sportswear building at 1466 Broadway, located at the corner of 42nd Street
and Broadway, is at the heart of the Times Square Redevelopment area, and the
22-story 25 West 43rd Street building lies within a niche market that is 
emerging along 43rd and 44th Streets, between Avenue of the Americas and 
Grand Central Terminal at Fifth Avenue.

     Commenting on the acquisition, Stephen L. Green, Chairman and Chief
Executive Officer of SL Green Realty Corp., said, "This transaction furthers
our strategy of pursuing opportunities to acquire repositionable buildings
that are located in Manhattan's hottest submarkets.  The addition of these
buildings to our existing portfolio will expand our presence in neighborhoods
where we have already established strong footholds with our acquisitions of
110 East 42nd Street, 1372 Broadway, 36 West 44th Street (The Bar Building)
and 1140 Avenue of the Americas."

     Subsequent to the acquisition, SL Green's portfolio will consist of 15
properties, encompassing approximately 5.2 million rentable square feet.

     SL Green Realty is a fully integrated, self-administered and self-
managed real estate investment trust ("REIT") which primarily owns, manages,
leases, acquires and repositions Class B office properties in Manhattan.
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