The property is an office asset located at 485 Lexington Avenue in Brooklyn, with an asking rent of $68 per square foot. The lease encompasses a total area of 122,788 square feet and is set for a term of 10 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $68/ft
• Square Footage: 122,788
• Address: 485 Lexington Avenue
• Market: Brooklyn
• Landlord: Marc Holliday & Steven Durels - SL Green Realty
• Tenant: Alan Schnitzer - The Travelers Companies
• Brokerage Firm: JLL

The lease renewal involves a 10-year commitment from The Travelers Companies, which has been a tenant in the building for the past 15 years. The brokers involved in this transaction representing both the landlord and tenant are Robert Ageloff, Alexander Chudnoff, Christine Colley, Diana Biasotti, Kate Roush, Kristen Morgan, Matthew Astrachan, and Paul Glickman from JLL.