SL Green Realty announces transactions at 100 Park Avenue

SL Green Realty (SLG) announced a series of transactions at 100 Park Avenue, including a new 220,221 square-foot lease with global professional services firm, Alvarez & Marsal Holdings, a modification that extends and upsizes the existing $360.0 million mortgage, and the signing of a purchase option agreement to acquire its partner’s 49.9% interest in the property. Alvarez & Marsal Holdings signed a new 15-year lease for 220,221 square feet covering floors 3, 4 and 7-9, which brings the building’s leased occupancy to 95.8%. The tenant was represented by David Dusek of Cushman & Wakefield, while the Landlord was represented by Harry Blair, Tara Stacom, Barry Zeller, Justin Royce and Pierce Hance of Cushman & Wakefield. he Company also modified the building’s existing $360.0 million mortgage. The modification extended the final maturity date to December 2027 and maintained the interest rate at 2.25% over Term SOFR. In addition, the lenders provided a new $70.0 million future funding facility to support leasing costs at the property. SL Green was advised by Adam Spies and Doug Harmon of Newmark and the lenders were advised by Doug Middleton of CBRE.