Right now 16 Court is 83% leased, up from 70% when SL Green acquired the property. If all of the deals under contract are completed, that number will hit about 95% by the end of the year. "As long as you're willing to meet the market, that's what it's all about," Gulden said of the increase in occupancy, even during the recession.
The asking rent was in the high $30-per-square-foot-range when SL Green acquired 16 Court. Now it is leasing to tenants in the lower $30-range, though it could command higher rents in the upper floors. Tenants in the building include law firms, city administration and a variety of small businesses.
Gulden said SL Green would consider acquiring other nearby buildings in Brooklyn if given the opportunity. "We would entertain it," he said. "If you look at Manhattan, there's not a lot that's going on."
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