12-year lease

Further details were not released, but availabilities on-site are currently listed with an asking price of $27 per square foot. Sources also tell GlobeSt.com that the aggregate value of the deal is in the $10-million range

Barnes & Noble will occupy half of the third floor of the five-story, 278,500-square-foot property, relocating from a site in nearby Secaucus. The move will take place in April 2009 to the space once occupied by Ernst & Young as an office and data center. The latter was once the property's major tenant, but shed its extensive space relating to financial industry cutbacks.

The signing leaves the remaining 250,000 square feet in the SL Green Realty-owned building on the market. The asset recently underwent a major overhaul after E&Y's departure, including a new lobby, common area renovations incorporating green building technology, new systems, and new amenities and landscaping.