Chinatrust Commercial Bank and Major Lindsey Africa Raise Occupancy to 98%
New York, NY – February 5, 2013 – (RealEstateRama) — SL Green Realty Corp (NYSE: SLG) today announced that two new tenants have signed leases covering 42,664 square feet at 521 Fifth Avenue, the 39-story boutique office building conveniently located two blocks from Grand Central Terminal.. These transactions raise occupancy at the 463,000-square-foot building to 98%.
Chinatrust Commercial Bank, Ltd., (NY) signed a 20,987-square foot, 15-year lease for the entire 11th floor and Major Lindsey & Africa (MLAglobal.com) leading legal recruiters, signed a 21,677-square-foot, 10-year lease on the entire 5th floor.
“Leasing activity at the building accelerated at the end of 2012,” said Steven Durels, Director of Leasing and Real Property for SL Green who pointed out that the property’s desirable Grand Central location, comprehensive redevelopment and value-oriented rents have attracted several new tenants to the building.
Jamie Smith of Cassidy Turley acted for Major Lindsey Africa, which plans a move in date of midsummer. And, Soon Rhee of First New York Realty Brokers LLC represented Chinatrust Commercial Bank, scheduled to move in next month. Cushman & Wakefield’s Tara Stacom, Barry Zeller, Peter Alden, Whitten Morris and Mikael Nahmias represented SL Green in both transactions.
Other major tenants within the building include Royal Healthcare, Lebenthal Holdings, Starz Media and McGraw Communications.
