SL Green Realty Corp. is a

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

that primarily invests in

office building An office is a space where the employees of an organization perform administrative work in order to support and realize the various goals of the organization. The word "office" may also denote a position within an organization with specific du ...

s and

shopping center A shopping center in American English, shopping centre in English in the Commonwealth of Nations, Commonwealth English (see American and British English spelling differences#-re, -er, spelling differences), shopping complex, shopping arcade, ...

s in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet, and was reported to be "New York City’s largest office landlord". Notable properties owned by the company are

One Astor Plaza One Astor Plaza, also known as 1515 Broadway and formerly the W. T. Grant Building, is a 54-story office building on Times Square in the Theater District, Manhattan, Theater District of Midtown Manhattan in New York City, New York, U.S. Designe ...

One Vanderbilt One Vanderbilt is a 73-story supertall skyscraper at the corner of 42nd Street (Manhattan), 42nd Street and Vanderbilt Avenue in the Midtown Manhattan neighborhood of New York City. Designed by Kohn Pedersen Fox for developer SL Green Realty, ...

, 461 Fifth Avenue, 810 Seventh Avenue, 919 Third Avenue, the Pershing Square Building, and

Random House Tower The Random House Tower, also known as the Park Imperial Apartments, is a 52-story, mixed-use tower in Midtown Manhattan, New York City. It is owned by real estate companies SL Green Realty and Ivanhoé Cambridge. Since its opening, the offi ...

History

The company's predecessor, S.L. Green Properties, Inc., was formed in 1980 by Stephen L. Green. In 1997, the company was formed as a successor. In 2000, the company sold the Whitehall Building. In 2002, in partnership with SITQ, the company acquired

for $483.5 million. In 2003, the company acquired 461 Fifth Avenue for $100.3 million. In November 2004, the company sold The Knickerbocker Hotel in Manhattan for $160 million. In 2005, the company acquired the

Metropolitan Life Insurance Company Tower The Metropolitan Life Insurance Company Tower (colloquially known as the Met Life Tower and also as the South Building) is a skyscraper occupying a full block in the Flatiron District of Manhattan in New York City. The building is composed of ...

for $916 million and converted the building into condominiums. In 2006, the company acquired Reckson Associates in a $4 billion transaction. In December 2007, the company acquired

388 Greenwich Street 388 Greenwich Street, originally called the Shearson Lehman Plaza and more recently the Travelers Building, is an office skyscraper in the Tribeca neighborhood of Lower Manhattan in New York City. The building is located at Greenwich Street, wi ...

from

Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, t ...

in a

leaseback Leaseback, short for "sale-and-leaseback", is a financial transaction in which one sells an asset and leases it back for the long term; therefore, one continues to be able to use the asset but no longer owns it. The transaction is generally done fo ...

transaction. Citigroup reacquired the building in 2016. In 2010, the company acquired the Pershing Square Building from Shorenstein Properties for $330 million. In 2011, the company sold

One Court Square One Court Square, also known as the Citicorp Building or the Citigroup Building, is a 50-story, office tower in Long Island City, Queens, across the East River from Manhattan in New York City, United States. It was completed in 1989 and desig ...

Long Island City Long Island City (LIC) is a neighborhood within the New York City borough of Queens. It is bordered by Astoria to the north; the East River to the west; Sunnyside to the east; and Newtown Creek, which separates Queens from Greenpoint, Brook ...

Queens Queens is the largest by area of the Boroughs of New York City, five boroughs of New York City, coextensive with Queens County, in the U.S. state of New York (state), New York. Located near the western end of Long Island, it is bordered by the ...

to David Werner and

Joel Schreiber Joel Schreiber is a British-born American real estate developer, investor, and founder of Waterbridge Capital. Biography Schreiber was born to a Hasidic Jewish family in London. He moved to New York City and in 2000 – with the help of his fam ...

for $481 million 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. In November 2018, the company purchased a $148 million stake in

245 Park Avenue 245 Park Avenue is a skyscraper in Midtown Manhattan, New York City. Designed by Shreve, Lamb and Harmon, it was completed in 1967 and contains on 48 floors. The Building Owners and Managers Association awarded the 2000/2001 Pinnacle Award to ...

from Chinese conglomerate

HNA Group HNA Group Co., Ltd., was a Chinese conglomerate (company), conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and ...

. The company was also appointed as property manager and leasing manager.

Buildings

Notable buildings managed by SL Green Realty include: *

* 110 East 42nd Street * 461 Fifth Avenue * 810 Seventh Avenue * 919 Third Avenue * Graybar Building * The News Building * Pershing Square Building *

* Worldwide Plaza

References

External links

Official WebsiteProperty Management
* {{Authority control 1997 initial public offerings Publicly traded companies based in New York City Companies listed on the New York Stock Exchange Property management companies Real estate companies established in 1980 Real estate investment trusts of the United States