SL Green Assumes Control of Office Condominium at 110 East 42nd Street

SL Green Realty Corp. SLG announced today that it has acquired a substantial ownership interest in the 205,000-square-foot office condominium at 110 East 42nd Street, along with control of the asset. This property, which is located steps from Grand Central Terminal on the south side of 42nd Street, offers unique opportunities to the Company as it adjoins 125 Park Avenue, which the Company recently acquired. In 2007, SL Green provided a senior mezzanine loan as part of its sale of the condominium unit. The transaction announced by the Company today included a consensual modification of that loan. In conjunction with the transaction, SL Green successfully restructured the in-place mortgage financing, which had previously been in default.