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News release

NEW YORK, NY

JLL Represents SL Green’s 10 East 53rd Street for Two-Floor Lease

Compass takes 17,000 square feet at Class A, 390,000-square-foot office building; residential brokerage to occupy the entire 16th floor, 17th floor


NEW YORK, September 28, 2016 — JLL has completed a new, direct transaction with Compass for building owner SL Green Realty Corp. at 10 East 53rd Street. The residential brokerage firm leased 17,000 square feet at the Class A, 390,000-square-foot commercial office building.

The building owner was represented by Paul N. Glickman and Alexander Chudnoff, vice chairmen; Cynthia Wasserberger, managing director; Diana Biasotti, senior vice president; and Benjamin Bass, vice president, all with JLL. Compass was represented by Mark Mandell, executive vice president, and Ethan Silverstein, senior director, with Cushman & Wakefield Inc.

"SL Green recently completed a spectacular, multimillion-dollar, building-wide redevelopment of 10 East 53rd Street," said Glickman. "We worked closely with ownership to structure a transaction for two contiguous floors for the residential brokerage firm at the office property. The trophy building is located in the heart of the Plaza District and offers terrific access to the surrounding neighborhood, along with great views."

Compass signed a 10-year lease and will occupy the 16th floor and 17th floor at 10 East 53rd Street, which is located between East 52nd and East 53rd streets between Fifth and Madison avenues. The residential brokerage firm is relocating to the office tower from Park Avenue.

The 37-story 10 East 53rd Street was designed by Emery Roth & Sons and constructed in 1972. Building owner SL Green recently completed a $50 million capital improvement program at the office tower that included a new plaza and retail storefronts, a new lobby featuring an art exhibit, and new elevators and building infrastructure. The building was recently certified as Wired Certified Gold by WiredScore.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,300 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2015, the New York tri-state team completed approximately 32.6 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $8.2 billion; managed projects valued at $7.8 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 141 million square feet.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.