New York, NY – October 1, 2008 – (RealEstateRama) — SL Green Realty Corp. announced today that Duane Reade has signed a 15-year lease renewal covering 5,500 square feet at 625 Madison Avenue.
“We’re delighted that Duane Reade will continue its long-term tenancy with us,” said Steven M. Durels, Executive Vice President and Director of Leasing and Real Property for SL Green.
The 17-story, 567,517-square-foot 626 Madison features a two-story atrium lobby and white glove service. Located between East 58th and East 59th Streets, it is within steps of some of New York’s most renowned hotels, including The Four Seasons and The Plaza, and the property’s retail tenants include such prestigious international design firms as Baccarat, Fratelli Rossetti, and Stuart Weitzman. LVMH and Polo Ralph Lauren are some of the building’s major office tenants
“We were happy to work with SL Green on this major transaction for our client at, arguably, the Upper East Side’s most significant retail intersection,” said Jeffrey Winick, CEO, Winick Realty Group, which exclusively represents Duane Reade for all its real estate requirements.
Duane Reade occupies space in a number of SL Green buildings, among them 485 Lexington Avenue and 16 Court Street.
About SL Green Realty Corp.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of June 30, 2008, the Company owned 30 New York City office properties totaling approximately 23,719,200 square feet, making it New York’s largest office landlord. In addition, SL Green holds investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, two development properties encompassing approximately 363,000 square feet and two land interests, along with ownership interests in 36 suburban assets totaling 7,867,500 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.
