NEW YORK CITY-SL Green Realty Corp. appears to be on something of a roll.
The REIT has closed two large deals, it reported Monday. In the office space arena, the company secured a whopping lease for over 100,000 square feet in Midtown. On the retail side, SL Green announced it has nabbed a new, upscale tenant on the tony Upper East Side, on Madison Ave.
At 750 Third Ave., between 46th and 47th streets, SL Green has inked a 150,865 square foot lease with Eisner Amper, an accounting firm. No further information about this deal was available at press time.
Uptown, international retailer Alexander McQueen signed a 15-year lease for space at 747 Madison Ave., on the corner of 65th St. The announcement didn't stipulate the size of the space. However, when the purchase of the facility was reported last summer by Crain's New York Business, it was revealed to be 6,700 square feet on the first floor and 3,100 square feet on the lower level.
The broker on the deal was Susan Kurland, EVP, CBRE. The retail co-op is owned by a joint venture that includes SL Green, Jeff Sutton and Harel Insurance Company Ltd.
After that partnership acquired the retail interest in September 2011, a second-floor residential co-op unit was acquired in order to redevelop and expand the ceiling height of the retail space. The remaining retail space on the corner of 65th Street and Madison Avenue, adjacent to the Alexander McQueen store, is currently in the market for leasing.
SL Green president Andrew Mathias comments on the retail transaction in the announcement. “The acquisition and repositioning of 747 Madison is a classic SL Green/Sutton initiative to unlock significant potential value from a prime retail location,” he says. “We believe the Alexander McQueen lease announced today confirms that our vision for this property was right on the mark, and we look forward to continuing our efforts to complete the lease-up next door.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
