SL Green Executes New 49-Year Net Lease at 562 Fifth Avenue

SL Green Realty Corp (NYSE: SLG), New York City’s largest commercial property owner and an S&P 500 company, today announced a new full-building, 49 year net lease at 562 Fifth Avenue. The lease contains a property purchase option for $100.0 million with annual escalations in the purchase price after the third year.

Brett Herschenfeld, Managing Director at SL Green, commented, “This lease, along with our recently announced sales of 570 and 574 Fifth Avenue, caps off yet another successful Fifth Avenue retail investment.”

Additionally, SL Green announced that 320,214 square feet of long-term office leases have been signed in the Manhattan portfolio during the fourth quarter to date. These leases included:

• a 50,000 square foot lease renewal signed with City University of New York at 555 West 57^th Street;
• a 44,874 square foot renewal and expansion lease signed with Murex North America, Inc. at 810 Seventh Avenue;
• a new 38,050 square foot lease signed with attorneys Golenbock, Eiseman, Assor, Bell & Peskoe, LLP at 711 Third Avenue;
• a 22,889 square foot lease renewal signed with KPS Capital Partners, L.P. at 485 Lexington Avenue.

Steven Durels, Director of Leasing and Real Property for SL Green, commented, “These leases are a continuation of the strong leasing velocity experienced within our portfolio throughout all of 2015.”

About SL Green Realty Corp.

SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2015, SL Green held interests in 121 Manhattan buildings totaling 43.2 million square feet. This included ownership interests in 30.6 million square feet of commercial buildings and debt and preferred equity investments secured by 12.6 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.3 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.

SLG – LEAS

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