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Howard Tenenbaum and Gary Rosen, of Stephen Green’s New York SL Green Realty have closed deals to leave the firm’s historic midtown office building at 110 East 42nd Street at full occupancy. Two current tenants and two new tenants will be taking a total of 48, 000 square feet of office space.
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The new tenants include the Princeton Review, which produces and administers all manner of standardized admissions tests for American undergraduate and graduate schools. It has signed to lease 21, 000 square feet on the building’s seventh floor for the next ten years. That firm will move from its current offices on Madison Ave in November.
Then there’s the New York area Metro North Commuter Railroad Company which will occupy 1, 840 square feet of space across the street from the terminal where its rail lines are based. It signed a new seven year lease.
The spaces went for $55 per square foot, according to a press release from SL Green.
Current tenant the British company SLR Acquisition Corp, which specializes in environmental consulting, signed a five year extension to its current lease for its eight floor offices increasing them by 11, 300 square feet to a total of 17, 900 square feet. Finally the law firm Morgan Lewis & Brockius LLP renewed its lease for another five years for 14, 370 square feet of offices on the building’s ninth floor.
SL Green reacquired the building in 2011, after having sold it in 2007 for $115.
110 East 42nd Street is a landmarked commercial office building located directly across the street from New York’s historic Grand Central Station. Its 18 stories hold 207, 000 square feet of office space.
Formerly the Bowery Savings Bank, it has a landmarked lobby whose ceiling is beautifully appointed with blue and yellow tiles depicting sky and stars, on site parking and operable windows.
The building’s major tenants include Curtis Mallet-Prevost, Colt & Mosle, Morgan Lewis & Bockius, Ackman & Ziff Real Estate Group, LLC and Newmark Grubb Knight Frank .
SL Green is a fully integrated real estate investment trust that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. It was founded by Stephen L. Green in 1980 and went public in 1997.
