SL Green Realty Leases 115,000 SF Office Space To New York Life Insurance Company

420 Lexington Ave, located in New York, NY, is an office asset that is part of SL Green Realty's portfolio. The property involves a total square footage of 115,000 and is known as the Graybar Building. The tenant, New York Life Insurance Company, has committed to a 10-year lease renewal and expansion. The asking rent for the space was $65 per square foot, with the tenant previously leasing approximately 88,000 square feet.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Square Feet: 115,000
• Address: 420 Lexington Ave, New York, NY, 101...
• Market: New York
• Tenant: New York Life Insurance Company
• Tenant's Representatives: Matthew Astrachan - JLL, Paul Glickman - JLL
• Landlord: SL Green Realty
• Landlord's Representative: David Kaufman - SL Green Realty
• Previous Lease Size: 88,000 SF
• Asking Rent: $65/SF

This transaction features tenant representation by Matthew Astrachan and Paul Glickman from JLL, while David Kaufman represents SL Green Realty in-house. The deal showcases a significant renewal and expansion effort from the tenant to secure an upgraded space within a prominent office market.