sl green realty corp (SLG) Key Developments
SL Green Realty Corp. Enters a Deal to Buy 11 Madison Ave. in Manhattan's Midtown South, N.Y
May 20 15
SL Green Realty Corp. announced that it inked a definitive agreement to buy 11 Madison Ave. in Manhattan's Midtown South, N.Y., for $2.29 billion. The price is exclusive of about $300 million in costs associated with lease stipulated improvements to the property. A joint venture of the Sapir Organization and CIM Group is selling the 29-story class A office property measuring 2.3 million square feet. The property will serve as the new headquarters for Sony Corp. of America. Other tenants include Yelp, Young & Rubicam, William Morris Endeavor Entertainment and Fidelity Investments, among others. The transaction should close in the third quarter, subject to customary closing conditions.
Parimala Rao Joins Senior Vice President of Information Technology of SL Green Realty Corp
Apr 27 15
SL Green Realty Corp. announced that Parimala Rao has joined the company as senior vice president of information technology. Mrs. Rao brings twenty years of experience to the position. Most recently, Mrs. Rao served as executive director of technology at The New York Times where she was awarded the Publisher's Award for Technology Innovation.
SL Green Realty Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 22 15
SL Green Realty Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. Total revenues were $396.3 million against $362.4 million last year. Income from continuing operations before equity in net income from unconsolidated joint ventures, equity in net gain on sale of interest in unconsolidated joint venture/real estate and (loss) gain on early extinguishment of debt was $38.2 million against $40.1 million last year. Income from continuing operations was $0.4 million against $5.8 million last year. Net income attributable to SL Green was $47.0 million against $149.8 million last year. Net income attributable to SL Green common stockholders was $43.3 million against $146.1 million last year. Net income per basic and diluted share was $0.44 against net income per diluted share of $1.53 last year. FFO per diluted share was $1.50 against $1.52 last year. Funds from operations, or FFO, for the quarter ended March 31, 2015 was $154.4 million against $150 million last year. Net operating income was $208.0 million against $181.6 million last year. Same-store NOI was $165.6 million against $162.1 million last year. Same-store cash NOI was $149.8 million against $146.4 million last year.
SL Green Realty Corp. Signs Two Leases Covering More Than 390,000 Square Feet
Apr 22 15
SL Green Realty Corp. announced that it has signed two new, long-term office leases covering more than 390,000 square feet. Bloomberg LP signed a 15-year lease covering 254,556 square feet for eight floors at 919 Third Avenue, the 47-story 1.5 million-square-foot property located between East 55th and 56th Streets. Additionally, WeWork, provider of shared workspace, community and services, signed a 15-year lease covering 136,118 square feet, comprising all nine floors at 315 West 36th Street.
P. Schoenfeld Asset Management L.P. Expands Lease Agreement with SL Green Realty Corporation
Apr 6 15
P. Schoenfeld Asset Management L.P. has renewed and expanded its lease with SL Green Realty Corporation for 10 years at 1350 Avenue of the Americas. Taking on an additional 5,347 square feet, P. Schoenfeld now occupies a total of 25,854 square feet.