SL Green Makes Music with Pandora Media at 125 Park Avenue
Customized Internet Music Provider Signs Long-term 52,450-Sq Ft Lease on Two Floors
NEW YORK--(BUSINESS WIRE)-- SL Green Realty Corp. (NYS: SLG) today announced that popular personalized internet music provider Pandora Media, Inc. has just signed a 10-year lease covering 52,450 square feet on the entire 19th and 20th floors of 125 Park Avenue, the 26-story, 572,705-square-foot building located directly across from Grand Central Terminal.
"We are delighted to welcome Pandora to the building," said Steven Durels, Executive Vice President and Director of Leasing and Real Property for SL Green, who added, "Pandora was attracted to the building because of its convenient location with immediate access to Grand Central Terminal and floors that have high slab heights and oversized windows."
Other tenants in the building include Haworth, Canon Business Solutions, Emerge 212, and Newmark Grubb Knight Frank.
CBRE's William Iacovelli and Ramsey Feher represented Pandora in the transaction, while Newmark Knight Frank's David Falk, Peter T. Shimkin, Daniel L. Levine and Brian S. Waterman acted on behalf of SL Green.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is the only fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2013, SL Green owned interests in 87 Manhattan properties totaling 42.8 million square feet. This included ownership interests in 27.8 million square feet of commercial properties and debt and preferred equity investments secured by 15.0 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 36 suburban assets totaling 6.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with three development properties in the suburbs encompassing approximately 0.4 million square feet. The Company also has ownership interests in 30 properties totaling 4.1 million square feet in southern California.
SL Green Realty Corp.
Steven Durels, 212-216-1617
Exec VP, Director of Leasing and Real Property
Melanie Keenan, 212-843-8092
KEYWORDS: United States North America New York
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