NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE: SLG), New York city’s largest office landlord, today announced that Coty Inc., one of the world’s preeminent beauty conglomerates, has signed a 10-year, 10,040-square-foot lease at 719 Seventh Avenue, now known as 30 Times Square, the retail flagship development that SL Green completed in 2017. Coty is expected to take possession of the property in July 2018.
30 Times Square is a five-story standalone retail property in the heart of Times Square offering 105 feet of wraparound frontage and 5,800 surface square-feet of state-of-the-art LED displays, allowing Coty to publish brand content across the most highly-trafficked pedestrian corridor in the world.
Brett Herschenfeld, Managing Director at SL Green, commented, “As the retail world evolves, Times Square has transformed, delivering state-of-the-art customer experiences, high sales volumes, social media engagement, and global marketability, all of which are highly desirable in the current retail landscape. The Times Square submarket continues to perform extremely well, and we look forward to welcoming globally-renowned Coty to the SL Green portfolio and to Times Square.”
RKF Vice Chairman Ariel Schuster, Managing Director Ross Berkowitz, and Associate Jason Wecker represented SL Green and JLL Vice Chairman Michael Hirschfeld represented Coty on the transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet. This included ownership interests in 28.7 million square feet of Manhattan buildings and debt and preferred equity investments secured by 21.2 million square feet of buildings. In addition, SL Green held ownership interests in 25 suburban buildings totaling 3.7 million square feet in Brooklyn, Long Island, Westchester County, and Connecticut.
SLG – LEAS