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SL Green: “Timing Was Right” On Viacom Deal

NEW YORK CITY-Shutting down rumors of a potential move to Lower Manhattan or the Far West Side, Andrew Mathias, president of SL Green, said during an earnings call that the media company “knew what they wanted” and the Manhattan office REIT knew what the tenant “needed” to stay in Times Square.

By Jacqueline Hlavenka | Updated on April 26, 2012

NEW YORK CITY-In the first quarter of 2012, SL Green Realty Corp. signed 70 leases totaling 684,337 square feet to tenants like Random House, Jazz at Lincoln Center and FTI Consulting. But during the Manhattan office REIT’s annual earnings call, all eyes and ears were focused on Viacom’s massive lease renewal at 1515 Broadway in the heart of Times Square.

While the mega-deal does not fall under the REIT’s Q1 earnings, the transaction broke in the Commercial Observer shortly before the company posted its filings for the quarter – a chain of events which company president Andrew Mathias described as all about timing.

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