News: Brokerage

SL Green Realty Corp. signs four leases totaling 48,482 s/f at 110 East 42nd Street

SL Green Realty Corp. signed four leases totaling 48,482 s/f at 110 East 42nd St. These leases increase occupancy at the 18-story, 206,853 s/f office building to 100%. UK-based environmental consultancy SLR Acquisition Corp. expanded by 11,305 s/f upon signing a five-year lease amendment to occupy a portion of the 8th floor, bringing its total commitment to 17,901 s/f. TPR Education (d/b/a/ The Princeton Review), the test preparation and college admissions services company, signed a 10-year new lease for the building's entire 7th floor comprised of 20,966 s/f. Metro North Commuter Railroad Company signed a new seven-year lease covering 1,840 s/f. Morgan Lewis & Brockius LLP renewed for five years on the 9th floor in 14,371 s/f. Steven Durels, SL Green's executive vice president and director of leasing and real property, said, "110 East 42nd St. provides a unique combination of jewel box architecture and convenience with direct access into Grand Central Terminal," and added that, recent upgrades have been completed to corridors, bathrooms and windows with new elevator cabs soon to follow. Peter Trivelas of DTZ Americas, Inc. acted on behalf of The Princeton Review; Josh Kuriloff and Jodi Roberts of Cushman & Wakefield, Inc. represented Metro-North and Barbara Winter and Lisa Kiell of JLL represented Morgan Lewis & Brockius. SL Green's Howard Tenenbaum and Gary Rosen represented the landlord in all transactions. SL Green, one of New York City's largest office landlords, 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 March 31, SL Green held interests in 95 Manhattan buildings totaling 45.1 million s/f. This included ownership interests in 28.4 million s/f of commercial buildings and debt and preferred equity investments secured by 16.7 million s/f of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.9 million s/f in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced