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SL Green Pulls In Midtown Expansion

NEW YORK CITY—The city's largest office space owner is now up to 98% occupancy at the 1.5-million-square-foot Graybar building.

By remstaff | Globe Street | | Updated on August 27, 2015

NEW YORK CITY—Metro-North has added nearly 25,000 square feet to its space at the iconic Graybar building, at 420 Lexington Ave. The rail line’s expansion lease—which is in place for 19 years and adds 24,928 square feet to its offices—brings the tenant’s Midtown footprint up to 321,185 square feet at the SL Green owned building.

The asking rent in the new agreement was $65 per square foot, according to the Commercial Observer. Situated between East 43rd and East 44th Streets, the 1.5-million-square-foot building is now at 98% occupancy and is adjacent to Metro North’s main hub at Grand Central Terminal.

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