Thank you for sharing!

Your article was successfully shared with the contacts you provided.

[IMGCAP(1)]NEW YORK CITY-Locally based SL Green Realty Corp. has completed a new 10-year lease agreement with Enterprise Asset Management Inc. to occupy 10,022 sf on the 18th floor of 521 Fifth Avenue. The lease is one of a string of notable leasing transactions following SL Green’s $25 million capital improvement program at the 39-story office tower, which is situated at 43rd Street only two blocks from Grand Central Terminal.

[IMGCAP(2)]According to Steven Durels, EVP and director of Leasing and Real Property for SL Green, “following its repositioning, 521 Fifth Ave. has become a magnet for financial services tenants and diversified corporate service providers. Enterprise, which provides private money management service, is just such a tenant. We are delighted to welcome them to our redeveloped property.”

[IMGCAP(3)]In December, Durels told GlobeSt.com that asking price today is $72 per sf, versus $45 per sf prior to the repositioning at the 521 Fifth Ave. property. Built in 1929, the 39-story 462,853-sf building’s other tenants include Starz Media Inc, a programming production and distribution company; Hiscox Inc., a UK reinsurance firm; and Sextant Search Partners, an executive search firm. Circuit City Stores Inc. is the ground and second floor retail anchor occupying a total of 25,866 sf.

Kevin Wang of KRW Realty Advisors represented Enterprise Asset Management in the transaction. David Turino of SL Green represented the landlord. As of Dec. 31, 2007, SL Green owned 32 New York City office properties totaling approximately 24.7 million sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.