SL Green Realty

SL Green Realty Corp.
Public company
Traded as NYSE: SLG
S&P 500 Index component
Industry Real estate investment trust
Founded 1997 (1997)
Founder Stephen L. Green
Headquarters New York City
Key people
 Stephen L. Green, Chairman
Marc Holliday, CEO
Andrew W. Mathias, President
Matthew J. DiLiberto, CFO[1]
Revenue Increase $1.863 billion (2016)[1]
Decrease $0.278 billion (2016)[1]
Total assets Decrease $15.857 billion (2016)[1]
Total equity Increase $7.750 billion (2016)[1]
Number of employees
 1,075 (2016)[1]
Website www.slgreen.com

SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City.

Investments

Notable properties owned by the company are:[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 November 2004, the company sold The Knickerbocker Hotel (Manhattan) for $160 million.[2]

In 2005, the company acquired the Metropolitan Life Insurance Company Tower for $916 million and converted the building into condominiums.[3]

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

In December 2007, the company acquired 388 Greenwich Street from Citigroup in a leaseback transaction.[5] Citigroup reacquired the building in 2016.[6]

In March 2008, the company sold 1250 Broadway for $310 million.[7]

In 2011, the company sold One Court Square to Israeli investors.[8]

In February 2012, the company acquired 724 Fifth Avenue.[9]

In November 2014, the company acquired 102 Greene Street for $32.3 million.[10]

In July 2015, the company acquired 187 Broadway and 5-7 Dey Street for $63.7 million.[11] The company also announced the sale of Tower 45, the office building located at 120 West 45th Street, for $365.0 million and the joint venture of 131-137 Spring Street, based on a property value of $277.8 million.[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]

References

  1. 1 2 3 4 5 6 7 8 9 SL Green Realty Corp. 2016 Form 10-K Annual Report
  2. ↑ Stoler, Michael (April 20, 2006). "Condos, New Retail To Be Added to Times Square Mix". The New York Sun.
  3. ↑ Lueck, Thomas J. (March 31, 2005). "$1 Billion Deal Turns MetLife Into Condos". The New York Times. (subscription required)
  4. ↑ Deutsch, Claudia H. (August 4, 2006). "SL Green Acquires Reckson Associates for $4 Billion". The New York Times.
  5. ↑ Burr, Andrew C. (December 5, 2007). "Citigroup Sells Pair of NYC Office Buildings in $1.5 Billion Deal With SL Green". CoStar Group.
  6. ↑ "SL Green & Citi Reach Agreement on Early Purchase of 388-390 Greenwich Street" (Press release). Business Wire. April 20, 2016.
  7. ↑ "SL Green Announces Sale of 1250 Broadway" (Press release). Business Wire. March 4, 2008.
  8. ↑ "SL Green's One Court Square purchased by Israeli investors". The Real Deal. November 9, 2011.
  9. ↑ "SL Green Acquires 724 Fifth Avenue" (Press release). Business Wire. February 1, 2012.
  10. ↑ "SL Green buys 102 Greene Street for $32M". The Real Deal. November 4, 2014.
  11. ↑ "SL Green Announces Acquisition of Mixed-Use Properties in Downtown Manhattan" (Press release). Business Wire. July 21, 2015.
  12. ↑ "SL Green Announces Sale of Tower 45 and Joint Venture of SoHo Property" (Press release). Business Wire. July 13, 2015.
  13. ↑ "SL Green Announces Sale of 16 Court Street in Brooklyn, NY" (Press release). Business Wire. August 10, 2017.
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