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Two More Tenants Sign on at 280 Park Avenue



  Two More Tenants Sign on at 280 Park Avenue

Leasing Activity Builds as SL Green and Vornado’s $125M Redevelopment Project
                                Moves Forward

Business Wire

NEW YORK -- April 24, 2013

SL Green Realty Corp (NYSE: SLG) and Vornado Realty Trust (NYSE: VNO) today
announced two new leases totaling 99,082 square feet at 280 Park Avenue, the
1.2 million-square-foot, 43-story Class A office building located between East
48^th and 49^th Streets.

  * Blue Mountain Capital, a prominent asset manager focused on the credit
    markets and equity derivatives markets, signed a 10-year lease covering
    49,541 square feet on the entire 12^th floor. Blue Mountain will relocate
    from the 5^th floor where it has a short term lease covering 22,250 square
    feet.
  * Promontory Financial Group LLC, a leading strategy, risk management and
    regulatory compliance consulting firm focusing primarily on the financial
    services industry,  signed a  10-year lease, covering 49,541square feet on
    the entire 11^th floor. Promontory will relocate from the 40^th floor
    where it has a short term lease covering 19,495 square feet.

These transactions follow other recent 2012 leasing activity at the building,
including an early renewal with Cohen & Steers for 87,677 square feet and
renewal and expansion with Viking Global Investors covering 40,399 square
feet.

The leasing activity reflects market enthusiasm for the comprehensive $125
million redevelopment plan currently being executed by the SL Green/Vornado
partnership. The project will position 280 Park as a premier, state-of-the-art
property strategically located in the desirable Grand Central Terminal
submarket.

The capital plan includes a new world-class lobby spanning the entire block
front between 48^th and 49^th Streets, a new center block interior courtyard
with reflecting pool, new glass curtain wall connecting the eastern and
western sides of the base floors, redesigned plaza, new elevator cabs and
bathrooms, new thin line perimeter induction units providing visibility to
windows with floor to ceiling glass, upgraded infrastructure including new
electric distribution, emergency generator, state-of-the-art security,
increased HVAC capacity and an extensive program to enhance environmental
sustainability.

Brad Siderow of Siderow Organization acted on behalf of Blue Mountain; there
was no tenant broker acting on behalf of Promontory Financial Group; joint
landlords SL Green/Vornado were represented by CBRE’s Mary Ann Tighe and Peter
Turchin.

Forward-looking Statement

This press release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and are intended to be covered by the safe
harbor provisions thereof. All statements, other than statements of historical
facts, included in this press release that address activities, events or
developments that we expect, believe or anticipate will or may occur in the
future, including such matters as future capital expenditures, dividends and
acquisitions (including the amount and nature thereof), development trends of
the real estate industry and the Manhattan, Brooklyn, Queens, Westchester
County, Connecticut, Long Island and New Jersey office markets, business
strategies, expansion and growth of our operations and other similar matters,
are forward-looking statements. These forward-looking statements are based on
certain assumptions and analyses made by us in light of our experience and our
perception of historical trends, current conditions, expected future
developments and other factors we believe are appropriate.

Forward-looking statements are not guarantees of future performance and actual
results or developments may differ materially, and we caution you not to place
undue reliance on such statements. Forward-looking statements are generally
identifiable by the use of the words "may," "will," "should," "expect,"
"anticipate," "estimate," "believe," "intend," "project," "continue," or the
negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a
number of risks and uncertainties that may cause our actual results,
performance or achievements to be materially different from future results,
performance or achievements expressed or implied by forward-looking statements
made by us. These risks and uncertainties include the effect of general
economic, business and financial conditions, and their effect on the New York
metropolitan real estate market in particular; dependence upon certain
geographic markets; risks of real estate acquisitions, dispositions and
developments, including the cost of construction delays and cost overruns;
risks relating to structured finance investments; availability and
creditworthiness of prospective tenants and borrowers; bankruptcy or
insolvency of a major tenant or a significant number of smaller tenants;
adverse changes in the real estate markets, including reduced demand for
office space, increasing vacancy, and increasing availability of sublease
space; availability of capital (debt and equity); unanticipated increases in
financing and other costs, including a rise in interest rates; our ability to
comply with financial covenants in our debt instruments; our ability to
maintain our status as a REIT; risks of investing through joint venture
structures, including the fulfillment by our partners of their financial
obligations; the continuing threat of terrorist attacks, in particular in the
New York metropolitan area and on our tenants; our ability to obtain adequate
insurance coverage at a reasonable cost and the potential for losses in excess
of our insurance coverage, including as a result of environmental
contamination; and legislative, regulatory and/or safety requirements
adversely affecting REITs and the real estate business, including costs of
compliance with the Americans with Disabilities Act, the Fair Housing Act and
other similar laws and regulations.

Other factors and risks to our business, many of which are beyond our control,
are described in our filings with the Securities and Exchange Commission. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of future events, new information or
otherwise.

Contact:

SL Green Realty Corp.
Steven Durels, 212-216-1617
Exec VP,
Director of Leasing and Real Property
or
Vornado Realty Trust
Joseph Macnow, 201-587-1000
CFO
EVP Finance & Administration
or
Rubenstein Associates
Melanie Keenan, 212-843-8092
mkeenan@rubenstein.com
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