SL Green Realty

SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet. Notable properties owned by the company are One Astor Plaza, One Vanderbilt, 461 Fifth Avenue, 810 Seventh Avenue, 919 Third Avenue, the Pershing Square Building, and Random House Tower.[1]

SL Green Realty Corp.
TypePublic company
NYSE: SLG
S&P 500 Index component
IndustryReal estate investment trust
Founded1997 (1997)
FounderStephen L. Green
Headquarters
New York City
Key people
Marc Holliday, Chairman & CEO
Andrew W. Mathias, President
Matthew J. DiLiberto, CFO
Revenue $1.238 billion (2019)
$0.255 billion (2019)
Total assets $12.766 billion (2019)
Total equity $5.517 billion (2019)
Number of employees
1,033 (2019)
Websiteslgreen.com
Footnotes / references
[1]

History

The company's predecessor, S.L. Green Properties, Inc., was formed in 1980 by Stephen L. Green.[1]

In 1997, the company was formed as a successor.[1]

In 2000, the company sold the Whitehall Building.[2]

In 2002, in partnership with SITQ, the company acquired One Astor Plaza for $483.5 million.[3]

In 2003, the company acquired 461 Fifth Avenue for $100.3 million.[4]

In November 2004, the company sold The Knickerbocker Hotel (Manhattan) for $160 million.[5]

In 2005, the company acquired the Metropolitan Life Insurance Company Tower for $916 million and converted the building into condominiums.[6]

In 2006, the company acquired Reckson Associates in a $4 billion transaction.[7]

In December 2007, the company acquired 388 Greenwich Street from Citigroup in a leaseback transaction.[8] Citigroup reacquired the building in 2016.[9]

In 2010, the company acquired the Pershing Square Building from Shorenstein Properties for $330 million.[10]

In 2011, the company sold One Court Square in Long Island City, Queens to David Werner and Joel Schreiber for $481 million[11][12]

In August 2017, the company sold the Montague-Court Building for $171.0 million. The company had bought the property for $107.5 million in 2007 and made significant upgrades.[13]

In November 2018, the company purchased a $148 million stake in 245 Park Avenue from Chinese conglomerate HNA Group. The company was also appointed as property manager and leasing manager.[14]

Buildings

Buildings under management of SL Green Realty:

References
  1. "SL Green Realty Corp. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Metro Business; Broadway Building Is Sold". The New York Times. Bloomberg News. September 22, 2000. ISSN 0362-4331.
  3. "1515 BROADWAY". The Real Deal.
  4. "SL Green Realty Corp. Announces Agreement to Acquire 461 Fifth Avenue for $62.3 Million" (Press release). Business Wire. July 21, 2003.
  5. Stoler, Michael (April 20, 2006). "Condos, New Retail To Be Added to Times Square Mix". The New York Sun.
  6. Lueck, Thomas J. (March 31, 2005). "$1 Billion Deal Turns MetLife Into Condos". The New York Times.
  7. Deutsch, Claudia H. (August 4, 2006). "SL Green Acquires Reckson Associates for $4 Billion". The New York Times.
  8. Putzier, Konrad (June 13, 2016). "Citigroup closes on $1.8B buy of Tribeca HQ from SL Green". The Real Deal.
  9. "SL Green & Citi Reach Agreement on Early Purchase of 388-390 Greenwich Street" (Press release). Business Wire. April 20, 2016.
  10. Levy, Dan (May 7, 2010). "SL Green Said to Buy Park Avenue Office Tower for $330 Million". Bloomberg News.
  11. Putzier, Konrad (December 1, 2017). "The story of WeWork's mysterious first investor". The Real Deal.
  12. "SL Green's One Court Square purchased by Israeli investors". The Real Deal. November 9, 2011.
  13. "SL Green Announces Sale of 16 Court Street in Brooklyn, NY" (Press release). Business Wire. August 10, 2017.
  14. "SL Green invests $148M for stake in HNA's 245 Park Avenue". The Real Deal. November 30, 2018.
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